PTI reported that tracking a weak Asian trend on slowing growth concerns, copper prices fell by 0.32% to INR 419.15 per kilogram in futures trade as speculators offloaded their positions.
At the Multi Commodity Exchange, copper for delivery in this month fell INR 1.35 or 0.32% to INR 419.15 per kilogram in business turnover of 2,370 lots. Similarly, the metal for delivery in August traded lower by INR 1.30 or 0.31% to INR 424.40 per kilogram in 186 lots.
Analysts attributed the fall in copper futures to weak global cues as concern that growth is slowing in China, the world's biggest user, outweighed the shutdown of the world's second biggest mine in Indonesia. Meanwhile, copper for delivery in three months fell 0.6% to USD 7,410 per tonne on the London Metal Exchange.
