NEW DELHI, Sept 15: Copper futures traded 0.28 per cent lower at Rs 420.20 per kg today as speculators trimmed positions amid weak trend in the global markets.
Moreover, muted demand at domestic spot markets also put pressure on prices.
At the Multi Commodity Exchange, copper for delivery in November eased by Rs 1.20, or 0.28 per cent, to Rs 420.20 per kg, in a business turnover of 774 lots.
The metal for delivery in February next year too fell by a similar margin to trade at Rs 424.40 per kg in a business volume of six lots.
Analysts said, a weak trend in copper in the global market in yesterday’s trade after some weaker-than-expected data from China pointed to slowing demand from the metal’s top consumer and low demand at the domestic spot markets, weighed on copper prices at futures trade.
Globally, three-month copper prices ended down 0.70 per cent at four-week low of USD 6,498 per tonne. (PTI)
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