Copper prices fell by 0.37% to Rs 421 per kg in futures trade today as speculators reduced their positions amid a weak trend on the London Metal Exchange on concerns about demand.
At the Multi Commodity Exchange, copper for delivery in November declined by Rs 1.55, or 0.37%, to Rs 421 per kg, with a business turnover of 4,176 lots.
Similarly, the metal for delivery in far-month February eased by Rs 1.60, or 0.37%, to Rs 425.25 per kg, with a trade turnover of 161 lots.
Analysts said the decline in copper futures prices was due to a weak trend in global markets, with investors apprehensive of a decline in demand for the industrial metal ahead of the release of key data on US unemployment later in the day, which may show that the recovery of the world's largest economy is still unsteady.
In addition, the announcement by China yesterday that its export orders have fallen for the first time in two years had an adverse impact on copper futures prices, they said.
Meanwhile, copper for three-month delivery was down by 0.5% to USD 9,100 a tonne on the London Metal Exchange.
