Copper futures down 0.9% on global cues
Copper prices fell by 0.87% to Rs 388.75 per kg in futures trade today, in tandem with a weak trend on the London Metal Exchange (LME).
Sluggish demand in the domestic spot market also weighed on copper prices in futures trade here.
At the Multi Commodity Exchange, copper for delivery in February fell by Rs 3.40, or 0.87%, to Rs 388.75 per kg in 2,275 lots.
In a similar fashion, the metal for delivery in November lost Rs 3.15, or 0.81%, to Rs 383.65 per kg, with an open interest for 2,368 lots.
Meanwhile, prices of copper for three-month delivery fell by 0.9% to $7,420.75 per tonne on the LME.
Analysts said in addition to subdued domestic demand, a weak trend on the LME influenced by Europe's debt issues and concerns over US economic growth hurting global demand for metals, dragged down copper prices in futures trade.