PTI reported that Indian copper prices fell by INR 3.65 to INR 412 per kilogram in futures trade as speculators reduced their positions, tracking a weakening global trend.

At the Multi Commodity Exchange, November copper fell by INR 3.65 or 0.88% to INR 412 per kilogram with a business turnover of 2,458 lots. It ended 0.09% lower at INR 415.65 in the previous session. The February contract traded lower by INR 3.70 or 0.86% to INR 416.20 per kilogram with an open interest of 188 lots.

Market analysts said that a weakening trend in global markets on escalating concern over Europe's sovereign debt crisis, reducing prospects of growing demand for industrial metals mainly put pressure on the copper futures prices here.

Meanwhile, copper for three months delivery fell by 0.7% to USD 8,762.25 per tonne the lowest level in since August 23 on the London Metal Exchange.

(Sourced from Press Trust of India)