Copper down marginally on subdued demand

Feb, April contracts shed about 0.1% each as traders trim positions

Copper futures fell by 0.15 per cent to Rs 451.50 per kg today as speculators trimmed their positions due to subdued demand at domestic spot markets amid a mixed trend overseas.

At the Multi Commodity Exchange, copper for delivery in April declined by 70 paise, or 0.15 per cent, to Rs 451.50 per kg in business turnover of 31 lots.

Similarly, the metal for delivery in February fell by 55 paise, or 0.12 per cent, to Rs 449.20 per kg in 394 lots.

Analysts attributed the decline to a weak demand at domestic spot markets and a mixed trend overseas.

Meanwhile, copper for delivery in three months traded lower at $7,162 per tonne at the London Metal Exchange while the metal at the Shanghai Futures Exchange rose 0.40 per cent to 50,570 yuan ($8,301) per tonne.