ET:Copper futures fall 0.31 per cent on global cues
NEW DELHI: Tracking a weak global trend, copper prices fell by Rs 1.40 to Rs 443.65 per kg in futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange, copper for delivery in February declined by Rs 1.40, or 0.31 per cent to Rs 443.65 per kg in business turnover of 15132 lots.
Similarly, the metal for delivery in April traded lower by Rs 1.35, or 0.30 per cent to Rs 448.40 per kg in 1306 lots.
Market analysts attributed the fall in copper futures to weak global trend on speculation that Europe's debt crisis will worsen, derailing the global economic recovery and eroding demand for industrial metals.
Meanwhile, copper for three-month delivery fell 0.4 per cent to $ 8,270.50 a tonne on the London Metal Exchange.
