Copper futures drop on weak demand

Copper futures on Monday traded 0.27 per cent lower at Rs 440.90 per kg in futures trade as speculators reduced their exposure on weak spot demand.

On the Multi Commodity Exchange, copper contracts for December delivery fell by Rs 1.20 or 0.27 per cent, to Rs 440.90 per kg in a business turnover of 1,523 lots.

Similarly, copper contracts for January delivery traded lower by Rs 1.15, or 0.26 per cent, at Rs 446.10 per kg in a business turnover of 579 lots.

Traders said weak demand at spot market mainly pushed down copper prices.