Prices of copper futures fell 0.30 percent to 445.70 rupees per kg today as speculators reduced their exposures in a weak trend in global markets.
Today, all base metals on MCX are trading in the red. At 12:45 PM, on MCX copper for February delivery fell by Rs 1.30 or 0.30%, to Rs 445.70 per kg.
The metal for delivery in April fell by 85 paise, or 0.19percent, at 452.65 rupees per kg in a turnover of 76 lots.
Analysts said that the drop in copper prices in futures trade was primarily due to a weakening trend overseas on concern that the slowdown in economic growth in China, the world’s largest consumer, may weaken demand metal.
The contract for delivery in three months on the London Metal Exchange slipped 0.3 percent to $ 7.076 per ton.
Globally, copper for three month delivery traded 0.30 percent to $ 7,076 per tonne on the London Metal Exchange.
Reported News Source : Economic Times