Copper futures dip on weak demand

Copper futures traded 0.25 per cent lower at Rs 441.30 per kg on Monday as investors reduced their bets, taking weak cues from global markets.

Traders said apart from subdued trend overseas, weak demand in spot market mainly pushed down copper prices.

On the Multi Commodity Exchange, copper contracts for November delivery shed Rs 1.10, or 0.25 per cent, to Rs 441.30 per kg in 1,870 lots.

Similarly, copper contracts for December delivery traded down by Rs 1.15, or 0.26 per cent, to Rs 446.35 per kg in 92 lots.

Globally, copper was trading 0.84 per cent lower to USD 5,924 per tonne on the London Metal Exchange.