ET reported that tracking a weak global trend, copper prices declined by INR 3.60 to INR 453.10 per kilogram in futures trade as speculators trimmed their positions.

At the Multi Commodity Exchange, copper for delivery in November declined by INR 3.60 or 0.79% to INR 453.10 per kilogram with a business turnover of 15,300 lots. Similarly, the metal for delivery in February shed INR 3.55 or 0.77% to INR 457.95 per kilogram with a business volume of 1,163 lots.

Marketmen said that positions offloaded by speculators in tandem with a weak global trend mainly led to a decline in copper prices at futures trade. Meanwhile, copper for delivery in three months dropped 0.7% to USD 8,321 per tonne on the London Metal Exchange.

Source - Economic Times

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