NEW DELHI, Sept 8: Amid subdued domestic demand, copper prices fell by 0.35 per cent to Rs 355.900 per kg in futures trade today as traders reduced positions.
Analysts attributed the fall in copper futures to a weak trend at the domestic spot markets due to low demand and weak global cues after trade data showed export and imports contracting.
China’s exports fell 6.1 per cent year-on-year to 1.20 trillion yuan (around USD 188 billion) in August, Customs said, the latest batch of data showing weakness in the world’s second-largest economy.
At the Multi Commodity Exchange, copper for delivery in far-month February next year fell Rs 1.25 or 0.35 per cent to Rs 355.90 per kg in business turnover of eight lots.
The metal for delivery in November shed Rs 1.10 or 0.31 per cent to trade at Rs 350.25 per kg in a turnover of 428 lots.
Globally, for three-month delivery on the London Metal Exchange, copper traded little changed at USD 5,148 per tonne. (PTI)
Follow our WhatsApp channel