NEW DELHI: Copper futures prices today fell by 0.16 per cent to Rs 432 per kg as speculators trimmed their positions amid a weak trend in the global markets as rising inventories and a drop in US factory orders fuelled demand concerns.
At the Multi Commodity Exchange, copper for delivery in far-month June declined by 70 paise, or 0.16 per cent, to Rs 432 per kg in business turnover of 167 lots.
Similarly, the metal for delivery in April fell by 60 paise, or 0.14 per cent, to Rs 426.65 per kg in 3,279 lots.
Analysts attributed the decline to a weak trend at the London Metal Exchange (LME) on rising inventories and a decline in US factory orders, raising demand concerns.
Meanwhile, copper's stockpiles monitored by the LME, up 48 per cent this year, increased 0.2 per cent to 473,750 tonnes, while inventories tracked by the Shanghai Futures Exchange are near a one-year high.
Globally, copper for delivery in three-months traded 1 per cent lower at USD.
