NEW DELHI, Oct 14: Copper traded a shade lower at Rs 455.55 per kg in futures trade today after speculators trimmed positions, tracking a weak global trend.
At the Multi Commodity Exchange, copper for delivery in far-month February, 2014 shed 65 paise, or 0.13 per cent, to Rs 455.55 per kg in business turnover of 18 lots.
In a similar fashion, the metal for delivery in November declined marginally by 20, or 0.05 per cent, to Rs 444.55 per kg in 808 lots.
Market analysts said the fall in copper prices at futures trade was due to off-loading of positions by speculators, taking weak cues from global market as deadlocked talks on the US debt limit and an unexpected decline in China’s exports fuelled concerns that demand may weaken from the world’s two biggest users.
Meanwhile, copper for delivery in three months retreated as much as 0.8 per cent to USD 7,140 a tonne on the London Metal Exchange. (PTI)
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