Copper falls by 0.2% as global trend weakens

Copper futures fell 0.21% to Rs 309.50 per kg today as speculators trimmed positions amid a weak trend in global markets.

At Multi Commodity Exchange, copper for delivery in February declined 65 paise, or 0.21%, to Rs 309.50 per kg, in a business turnover of 268 lots.

The metal for delivery in April shed 55 paise, or 0.17%, to Rs 314 per kg, in a business volume of 10 lots.

Analysts said a weakening trend in base metals at the London Metal Exchange (LME) amid concern that supply gluts and waning demand in China, the world's biggest user, will keep commodities under pressure, weighed copper futures.
 

Globally, copper for delivery in three months traded 0.2% lower at $4,549 per tonne at LME.