ET reported that in range bound movements copper futures traded a shade lower largely in line with a weakening trend overseas. Besides, subdued demand at domestic spot markets also put pressure on the metal prices.
At the Multi Commodity Exchange, copper for delivery in far month April eased by 25 paise or 0.02% to INR 448.20 per kilogram in a business turnover of 234 lots. The metal for February delivery contract fell by similar margin to INR 444.20 per kilogram clocking a business volume of 4,290 lots.
Analysts attributed fall in copper prices at futures trade to a weakening global trend as US manufacturing unexpectedly shrank and a budget stand-off intensified besides subdued domestic demand.
Meanwhile, copper for delivery in 3 months fell 0.4% to USD 7,970 per tonne on the London Metal Exchange.
