NEW DELHI, Mar 3: Copper futures fell 0.41 per cent to Rs 438.40 per kg today as speculators trimmed positions amid a weak trend in the global markets after reports showed that manufacturing has slowed in China.
Besides, subdued demand in domestic spot markets also put pressure on copper futures.
At the Multi Commodity Exchange, copper for delivery in April declined by Rs 1.80, or 0.41 per cent, to Rs 438.40 per kg in a business turnover of 761 lots.
The metal for delivery in June fell by Rs 1.60, or 0.36 per cent, to Rs 441.50 in a business volume of 41 lots.
Analysts said besides subdued domestic demand, a weakening trend overseas after reports showed manufacturing slowed in China, the world’s biggest user, also put pressure on copper prices at futures trade.
Globally, copper for delivery in three-months traded 0.70 per cent lower at USD 6,964.25 per tonne at the London Metal Exchange, the lowest intra-day level since December 4 while on the Shanghai Futures Exchange it declined 0.9 per cent to 48,820 yuan (USD 7,940) a tonne. (AGENCIES)
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