NEW DELHI, July 23: Copper prices moved down by 0.25 per cent to Rs 419.30 per kg in futures trade today as speculators cut their bets amid subdued demand at the spot market.
Besides, a weak trend in base metals overseas, too, weighed on copper futures here.
Copper for delivery in August shed Rs 1.05, or 0.25 per cent, to Rs 419.30 per kg in a business turnover of 1,085 lots at the Multi Commodity Exchange.
Likewise, the metal for delivery in November traded lower by Re 1, or 0.23 per cent, to Rs 426.50 per kg in 8 lots.
Analysts said copper prices fell in line with a weak trend in industrial metals following sluggish demand from consuming industries at the domestic spot market.
Weak cues from global markets on mounting concerns escalating trade tariff spats that could dent demand, also put pressure on the metal prices.
Globally, at the London Metal Exchange, copper for delivery in three months eased by 0.2 per cent to USD 6,137 per tonne, after prices last week fell for the sixth week in a row, hitting the lowest in a year at USD 5,988 on Thursday. (PTI)
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