Copper prices fell by Rs 2.25 to Rs 418 per kg in futures trading today after speculators offloaded their positions, largely in tune with a weakening trend at the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in November declined by Rs 2.25, or 0.54% to Rs 418 per kg, with a business turnover of two lots.
Similarly, the metal for delivery in June lost Rs 1.80, or 0.44% to Rs 406.80 per kg, with an open interest of three lots.
Market analysts said a weakening global trend on mounting concern that the global economic recovery may be faltering as manufacturing slows from China to the US, mainly put pressure on the copper prices at futures trade here today.
Meanwhile, copper for three-month delivery fell 0.7% to USD 9,035 a metric tonne on the London Metal Exchange.