NEW DELHI, Nov 21: Amid a weak trend in the global markets and subdued domestic demandm, copper prices declined by 0.46 per cent to Rs 425.80 per kg in futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange, copper for delivery in November declined by Rs 1.95, or 0.46 per cent, to Rs 425.80 per kg in business turnover of 9,864 lots.
Similarly, the metal for delivery for the February contract fell by Rs 1.55, or 0.36 per cent to Rs 431.85 per kg in 1,200 lots.
Market analysts attributed the decline in copper futures to weak global trend as slow physical markets in China and fifth monthly drop in Japan’s exports fueled concerns over a recovery in demand.
Meanwhile, copper for delivery in three months fell 0.9 per cent to USD 7,710 a metric tonne on the London Metal Exchange. (PTI)
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