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Copper prices fell by 1.57% to Rs 414.05 per kg in futures trade today as speculators trimmed positions amid weak cues from global markets and subdued domestic demand.
At the Multi Commodity Exchange, copper for delivery in far-month November fell by Rs 6.60, or 1.57%, to Rs 414.05 per kg in a business turnover of 1,632 lots.
Market analysts said the fall in copper futures was mostly in line with a weakening trend overseas before data tomorrow that may show manufacturing slowed for a second month in China, the biggest consumer.
Besides, low demand from domestic consuming industries too weighed on prices, they said.
Globally, copper for delivery in three months retreated as much as 1% to USD 6,768.50 a tonne on the London Metal Exchange. Prices are down 8% this year, the most among the six main metals on the exchange.
