Copper futures fall on lower global trend

Copper prices fell by Rs 9.10 to Rs 337.70 per kg in futures trade today on emergence of selling by speculators, tracking a weak trend in global markets.

Fall in demand from consuming industries in the spot market also put pressure on the copper prices.

At the Multi Commodity Exchange, copper for delivery in November fell by Rs 9.10, or 2.62%, to Rs 337.70 per kg, with a business turnover of 21,113 lots.

Similarly, the metal for delivery in February lost Rs 9.10, or 2.59%, to Rs 342.30 per kg, with an open interest of 1,604 lots.

Analysts said fresh selling by traders in tandem with a weakening global trend mainly led to the fall in copper futures prices.

Meanwhile, copper dropped 3.6% to USD 6,765 a tonne on the London Metal Exchange, its lowest level since July last year.