Copper futures decline 1.01% on low demand

Amid muted demand in the domestic spot markets, copper prices fell 1.01 per cent to Rs 446.15 per kg in futures trade today as speculators cut down positions even as metal strengthened overseas.
At the Multi Commodity Exchange, copper for delivery in February eased by Rs 4.55, or 1.01 per cent, to Rs 446.15 per kg, in a business turnover of 2,725 lots.
On similar lines, the metal for delivery in far-month April was trading down by Rs 4.40, or 0.97 per cent, to Rs 450.10 per kg in 56 lots.
Marketmen attributed the fall in copper prices at futures trade to a low demand at the domestic markets from consuming industries amid profit-booking by participants at current levels, but a firm trend at the London Metal Exchange (LME) capped the fall.

At the LME, three-month copper was up 0.4 per cent at USD 7,114 per tonne, after ending flat in the previous session.