Base metal futures at MCX counter failed to recover from early losses as traders have not shown any interest on the back of weak global sentiments.
Copper, for the most-active far-month February contract fell by Rs 3.70 or 1.78 percent at Rs 204 a kg at the MCX counter. The contract recorded business turnover of 218 lots. Similarly, November delivery lost Rs 3.50, or 1.70 percent at Rs 199.80 a kg with a business turnover of 2,379 lots.
Copper prices have tumbled to the lowest in almost three years as a global economic slump reduces consumption of the metal used in pipes and wires. The prices have been on their way to abysmal as the demand outlook continues to fade.
