Copper falls by 0.8% on muted demand

Copper prices fell further by 0.78% to Rs 317.60 per kg in futures trading today as participants engaged in reducing their positions, tracking a weak trend at spot market on subdued demand amid bearish global cues.

At the Multi Commodity Exchange, copper for delivery in far-month April declined by Rs 2.50 or 0.78% to Rs 317.60 per kg in business turnover of 81 lots.

Likewise, the metal for delivery in February contracts eased by Rs 2.35,or 0.74% to Rs 313.75 per kg in 1,564 lots.

Analysts attributed the fall in copper futures to sluggish demand at domestic spot market amid a weak trend in base metals in global markets.