NEW DELHI, Feb 4: Continuing its slide, copper futures prices today fell further by 0.14 per cent to Rs 449.35 per kg, as speculators engaged in trimming positions, tracking a weak trend overseas on signs of weakening demand after manufacturing slowed in China and the US.
At the Multi Commodity Exchange, copper for delivery in April declined by 65 paise, or 0.14 per cent, to Rs 449.35 per kg in business turnover of 24 lots.
Similarly, the metal for delivery in February shed 35 paise, or 0.08 per cent, to Rs 443.30 per kg in 410 lots.
Analysts attributed the decline copper futures to a subdued trend at the London Metal Exchange (LME) where metal dropped for the 10th day on signs of weakening demand after manufacturing slowed in China and the US, the world’s top metals consumers.
Besides, rising inventories also weighed on the metal prices.
Copper stockpiles monitored by the Shanghai Futures Exchange jumped 18 per cent last month, the first increase since October.
Meanwhile, copper for delivery in three-months traded 0.30 per cent lower at USD 7,016 per tonne on the LME, the lowest intraday level since December 4. (AGENCIES)
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