BS reported that in mixed pattern of trading copper prices fell by 0.15% to INR 407.25 per kilogram in futures trade largely in line with a weakening trend at the London Metal Exchange.

Subdued demand in the domestic spot market also put pressure on copper prices in futures trade here. At the Multi Commodity Exchange, copper for delivery in February fell by 70 paise or 0.15% to INR 407.25 per kilogram in 4,845 lots.

However, the metal for delivery in April gained INR 1.45 or 0.35% to INR 413.20 per kilogram clocking a turnover of 338 lots. Meanwhile, prices of copper for three month delivery fell by 0.6% to USD 7,844.50 per tonne in early trade today on the LME.

Analysts said that in addition to subdued domestic demand, a weak trend on the LME on concern the Chinese economy may slow after non manufacturing industries contracted which might dampen demand from the largest consumer of the metal put pressure on metal prices in futures trade.

(Sourced from business-standard.com)