Copper futures fall 0.29 pc on muted demand

Copper futures fell 0.29 per cent to Rs 442.15 per kg today as speculators trimmed positions to book profits amid a weak trend in global markets.

Muted demand from consuming industries at domestic spot market also put pressure on prices.

At the Multi Commodity Exchange, copper for delivery in February declined by Rs 1.30, or 0.29 per cent, to Rs 442.15 per kg in a business turnover of 3 lots.

The metal for delivery in November fell Rs 1.25, or 0.28 per cent, to Rs 437.65 per kg in a business volume of 728 lots.

Analysts said muted demand at the domestic physical markets, a weak trend overseas, led to fall in copper prices at futures trade here.

Besides, sluggish demand at domestic spot market weighed on metal prices at futures trade here.

Globally, copper for delivery in three-month slid 0.5 per cent, to USD 6,667 per tonne at the London Metal Exchange (LME).

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)