BS reported that Indian copper prices declined by 0.30% to INR 419.50 per kilogram in futures trade today owing to a weakening trend overseas over Europe's debt worries amid sluggish domestic demand.
At Multi Commodity Exchange, copper for delivery in August declined by INR 1.25 or 0.30% to INR 419.50 per kilogram with a business turnover of 6,718 lots. The November contract traded lower by INR 1.25 or 0.29% to INR 424.75 per kilogram with a business turnover of 365 lots.
Market analysts said that besides the sluggish domestic demand, a weak trend overseas on concerns that Europe's debt crisis may worsen and slowing growth in China, the world's largest consumer of metals led to a fall in copper futures prices.
Meanwhile, copper for the three month delivery slipped 0.5% to USD 7,412 per tonne on the London Metal Exchange.
