Copper prices fell by Rs 7.75 to Rs 434.40 a kg in futures trade today as speculators offloaded their positions in line with a weakening trend in the global markets.
At the Multi Commodity Exchange, copper for delivery in August fell by Rs 7.75 or 1.75 per cent to Rs 434.40 with a business turnover of just one lot.
Likewise, the metal for delivery in June moved down by Rs 6.80 or 1.55 per cent to Rs 431.50 a kg, with a business turnover of six lots.
Copper prices for delivery in April contract shed Rs 6.80 or 1.57 per cent to Rs 427.05 a kg, with an open interest of 11 lots.
Market analysts attributed the fall in prices to offloading by speculators, triggered by weak global trend on concern that conflict in Libya and West Asia may sustain an oil rally, curbing the economic recovery and hurting demand.
Sluggish demand in the spot market further fuelled the downtrend in prices, they added.
Meanwhile, copper for three-month delivery dropped 0.9 per cent to $9,415.25 a tonne on the London Metal Exchange.
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