Copper futures decline 0.93 pc on low spot demand

TIL Desk/Business/New Delhi/ Copper prices fell 0.93 per cent to Rs 372.60 per kg in futures trade today as speculators cut their positions amid muted demand at the spot markets.

At the Multi Commodity Exchange, copper for delivery in June declined by Rs 3.50, or 0.93 per cent, to Rs 372.60 per kg in a business turnover of 1,639 lots. On similar lines, the metal for delivery in far-month August shed Rs 3.40, or 0.90 per cent, to Rs 376.30 per kg in 18 lots.

Marketmen attributed the fall in copper prices at futures trade to trimming of positions by traders in line with a weak trend in base metals at the domestic spot markets due to subdued demand from consuming industries.