Copper futures shed 0.46% as global trend weakens

Copper futures fell 0.46 per cent to Rs 403.25 per kg today as speculators trimmed positions amid a weak trend in global markets.

At the Multi Commodity Exchange, copper for delivery in February declined Rs 1.85, or 0.46 per cent, to Rs 403.25 per kg, in a business turnover of 32,267 lots.

The metal for delivery in far-month April was trading 1.75, or 0.43 per cent down, at Rs 406.75 per kg, in a business volume of 3,640 lots.

Analysts said that a weakening trend in base metals overseas amid signs of a slower-than-expected demand recovery in China after Lunar New Year holidays, mainly kept pressure on copper futures here.
 

Globally, copper for three-month delivery dropped 0.2 per cent at the London Metal Exchange (LME).

Besides, fall in demand at domestic spot markets, weighed on prices, they said.