ET:Copper futures decline 0.46% on global cues, subdued demand
NEW DELHI: Amid a weak trend in the global markets and profit-booking by speculators, copper prices declined by 0.18 per cent to Rs 452.35 per kg in futures trade today.
Besides, subdued domestic demand also weighed on the metal prices.
At the Multi Commodity Exchange, copper for delivery in April, next year declined by 80 paise, or 0.18 per cent, to Rs 452.35 per kg in business turnover of 420 lots.
Similarly, the metal for delivery for the February fell by 70 paise, or 0.16 per cent, to Rs 448 per kg in 4,850 lots.
Market analysts attributed the decline in copper futures to weak global trend after China's exports grew by less than expected and subdued domestic demand.
Meanwhile, copper for delivery in three months fell 0.4 per cent to $ 8,106 a metric tonne on the London Metal Exchange. The metal had touched $ 8,159, the highest level since October 19.
