NEW DELHI, Sept 1: Copper prices declined by 0.40 per cent to Rs 353 per kg in futures trading today as speculators trimmed positions, tracking a weak trend in base metals overseas.
Further, subdued spot demand from consuming industries fuelled the downtrend.
At the Multi Commodity Exchange, copper for delivery in far-mlonth February moved down by Rs 1.40, or 0.40 per cent, to Rs 353 per kg in a business turnover of 12 lots.
Also, the metal for delivery in November traded lower by Rs 1.15, or 0.33 per cent, to Rs 347.60 in a business volume of 1,706 lots.
Analysts attributed the fall in copper futures to weak trend in base metals at the London Metal Exchange (LME) after an official gauge showed China’s factory activity at a three-year low, underscoring weakening demand in the world’s biggest consumer.
Globally, copper for delivery in three months slipped 0.2 per cent to USD 5,127 a metric tonne at the LME. (PTI)
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