Copper Prices Fall on Weak Global Cues

New Delhi, Feb 2 (PTI) Copper prices declined nearly 2 per cent to Rs 1,208.50 per kg in futures trade on Monday as market participants trimmed positions due to sluggish demand and weak global trends.

On the Multi Commodity Exchange (MCX), copper futures for February delivery depreciated Rs 21.25, or 1.73 per cent, to Rs 1,208.50 per kg in a business turnover of 13,884 lots.


Similarly, the March contract of the metal dropped by Rs 25, or 2 per cent, to Rs 1,233.80 per kg in 5,302 lots on the MCX.

Traders said profit-booking by investors amid a subdued demand in global markets weighed on the sentiment in the domestic market.

In the international markets, Comex copper futures for March delivery fell nearly 3 per cent to USD 5.75 per pound. The red metal on the London Metals Exchange (LME) declined USD 357.35, or 2.71 per cent, to USD 12,810.65 per tonne.