Copper falls by 0.9% as trend weakens

Taking weak cues from global market, copper futures traded 0.90% lower at Rs 318.95 per kg today as speculators offloaded bets.

Furthermore, subdued demand at domestic spot market pushed down metal prices.

At Multi Commodity Exchange, copper for delivery in far-month April shed Rs 2.90, or 0.90%, to Rs 318.95 per kg in a business turnover of 112 lots.

Also, metal for delivery in far-month February contract was trading down Rs 2.55, or 0.80%, at Rs 314.80 per kg in 4,169 lots.

Analysts attributed the fall to weakness in base metals at the London Metal Exchange (LME) on concern over the sustainability of demand in China, the largest consumer.
 

Meanwhile, copper dropped 0.9% to $4,695 per tonne at the LME.