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Copper prices declined by 0.31 per cent to Rs 457.50 per kg at the futures trading today, as speculators reduced their positions, driven by a weakening trend in the global markets.
At the Multi Commodity Exchange counter, copper for delivery in February fell by Rs 1.40 or 0.31 per cent to Rs 457.50 per kg with a business turnover of 13 lots.
Similarly, the metal for delivery in April traded lower by Rs 1.35 or 0.3 per cent to Rs 461.40 per kg with a business volume of two lots.
Marketmen said offloading of positions by speculators amid a weakening global trend ahead of import data, weighed on the copper futures prices here. The import data may show imports by China, the world’s biggest buyer, dropped in January on ample stockpiles.
Meanwhile, copper for three-month delivery declined 0.8 per cent to $9,970 a tonne on the London Metal Exchange after reaching a record $10,160 on Monday.
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