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Copper prices softened by 0.11% to Rs 463.30 per kg in futures trade today as speculators trimmed their positions, driven by a weak global trend as investors await a Federal Reserve decision on monthly stimulus programme.
At the Multi Commodity Exchange, copper for delivery in April next year softened by 50 paise, or 0.11%, to Rs 463.30 per kg in business turnover of 75 lots.
Likewise, the metal for delivery in February traded lower by 30 paise, or 0.07%, to Rs 458.30 per kg in 1,819 lots.
Analysts attributed the weakness in copper futures to a weak global trend as investors await outcome of Federal Reserve meeting today on its monthly stimulus programme.
Meanwhile, copper for delivery in three months dropped 0.3% to $7,254 a metric tonne on the London Metal Exchange.
