Copper down over 1% on weak LME trend

Copper prices fell by 1.10% to Rs 409.55 per kg in futures trade today in tandem with a weak trend on the London Metal Exchange and subdued domestic demand.

At the Multi Commodity Exchange, November copper declined by Rs 4.55, or 1.10%, to Rs 409.55 per kg, with a business turnover of 6,902 lots.

The February contract eased by Rs 4.45, or 1.06%, to Rs 413.90 per kg, with a trade turnover of 436 lots.

Analysts said in addition to subdued domestic demand, a weak trend on the London Metal Exchange over concerns that demand would fall on account of a possible slowdown of the global economy, also put pressure on copper futures prices here.