Copper prices fell over 1 per cent to Rs 1,183.65 per kilogram in futures trade on Tuesday, weighed down by weak global trends and muted demand from domestic consuming industries.
Copper Falls Over 1% in Futures Trade on Sluggish Demand
Copper futures declined over 1% amid weak demand, reflecting subdued activity and cautious sentiment in the metals market
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On the Multi Commodity Exchange, copper for February delivery fell Rs 14.40, or 1.2 per cent, to Rs 1,183.65 per kilogram in a business turnover of 16,193 lots.
Similarly, the March contract also went lower by Rs 15.55, or 1.27 per cent, to Rs 1,207 per kg in 8,063 lots.
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Traders said weak trends in the international markets and subdued domestic demand from consuming industries weighed on copper prices in futures trade.
In the global markets, Comex copper futures for March contract was trading nearly 2 per cent lower at USD 5.70 per pound.
On the London Metal Exchange (LME), the red metal declined USD 120.90, or 0.94 per cent, to USD 12,734.80 per tonne.