Copper weakens in futures trade on overseas trend

Copper futures prices fell marginally by 0.20% today after speculators reduced their positions in line with a weakening trend at the London Metal Exchange.

At the Multi Commodity Exchange, copper for delivery in April eased by 85 paise, or 0.20% to Rs 423.60 per kg, with a business volume of nine lots.

Similarly, the metal for delivery in June shed 80 paise, or 0.19% to Rs 430.55 per kg, with a trade volume of three lots.

Market analysts said off-loading of positions by speculators following weakness in metal at the London Metal Exchange (LME), mainly put pressure on the copper at futures market here.

Meanwhile, at the LME, three-month-delivery copper lost 0.5% to $9,535 a metric tonne.