NEW DELHI, June 24: Tracking a weak global trend, copper prices declined by 0.37 per cent to Rs 416.60 per kg in futures trading today as speculators offloaded positions.
Besides, subdued demand from consuming industries further fueled the downtrend.
At the Multi Commodity Exchange, Copper for delivery in June moved down by Rs 1.55, or 0.37 per cent, to Rs 416.60 per kg in business turnover of 1,177 lots.
Similarly, the metal for delivery in August traded lower by the same margin at Rs 419.75 per kg in 124 lots.
Analysts attributed the fall in Copper futures to weak global trend on signs of slowing demand in China, the biggest consumer.
Meanwhile, China’s imports of refined Copper fell 17 percent to 282,969 tons in May, customs data showed yesterday, marking the first monthly drop since February.
Globally, Copper for delivery in three months retreated 0.5 per cent to USD 6,848 a metric tonne on the London Metal Exchange. (PTI)
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