Tracking a weak Asian trend, copper prices fell by 0.20% to INR 399.15 per kilogram in futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange, copper for delivery in April fell by 80 paise, or 0.20%, to INR 399.15 per kilogram in a business turnover of 733 lots. Similarly, the metal for delivery in June shed 25 paise, or 0.19%, to INR 403.85 per kilogram in a business volume of 26 lots.
Marketmen attributed the fall in copper futures to weak global cues as most industrial metals declined after data showed economic expansion in China eased to the slowest pace in six quarters, fuelling concern that demand from the largest user will weaken.
Meanwhile, copper on the Shanghai Futures Exchange fell by 0.80% to CNY 46,170 per tonne while at the London Metal Exchange, it gained 0.3% to USD 6,558.25 per tonne.