NEW DELHI, Feb 20: Copper futures prices fell by 0.49 per cent to Rs 449.20 per kg today as speculators trimmed their positions amid a weak trend in the global markets after manufacturing gauge for China declined.
At the Multi Commodity Exchange, copper for delivery in February declined by Rs 2.20, or 0.49 per cent, to Rs 449.20 per kg in business turnover of 815 lots.
Similarly, the metal for delivery in April fell by Rs 1.65, or 0.36 per cent, to Rs 452.80 per kg in 357 lots.
Analysts attributed the decline to a weak trend at the London Metal Exchange (LME) after a manufacturing gauge for China declined more than estimated, damping demand prospects in the world’s biggest user of metals.
Globally, copper for delivery in three-months traded 0.70 per cent lower at USD 7,134.25 per tonne on the LME, while on the Shanghai Futures Exchange, the metal for delivery in May fell 0.4 per cent to 50,500 yuan (USD 8,304) a tonne. (AGENCIES)
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