ET reported that Indian copper futures prices today declined by 0.09% to INR 445.30 per kilogram as speculators trimmed their positions amid a weak trend in the global markets as the euro area recession deepened.
At the Multi Commodity Exchange, copper for delivery in February declined by 40 paise or 0.09% to INR 445.30 per kilogram in business turnover of 991 lots. Similarly, the metal for delivery in far month April fell by 60 paise or 0.09% to INR 451.10 per kilogram in 57 lots.
Analysts attributed the decline to a subdued trend at the London Metal Exchange as the euro-area recession deepened more than economists forecast, weakening demand for the metals. Meanwhile, copper for delivery in three months traded a shade lower at USD 8,250 per tonne on the LME.
