New Delhi, Nov 15 (PTI) Copper futures traded 0.56 per cent lower at Rs 446.30 per kg today as speculators trimmed their positions amid a weak trend in global markets.
Muted demand in domestic spot markets also put pressure on prices.
At the Multi Commodity Exchange, copper for delivery in February next year declined by Rs 2.50, or 0.56 per cent, to Rs 446.30 per kg in a business turnover of 62 lots.
The metal for delivery in the current month too fell by Rs 2.45, or 0.55 per cent, to Rs 440.20 per kg in a business volume of 1,673 lots.
Analysts said a weak trend in most industrial metals at the London Metal Exchange (LME) on lacklustre economic data from the world’s top consumer of base metals China and rising inventories mainly weighed on copper futures here.
The metal’s inventories rose 525 tonnes to 2,58,800 tonnes.
Globally, copper for three-month delivery dipped USD 19 to USD 6,876 per tonne at the LME.
This is published unedited from the PTI feed.