Copper futures prices fell by Rs 4.30 or 1.35 per cent to Rs 313.15 per kg today, as traders offloaded their positions after the metal slipped to a three- month low overseas on euro debt concerns.
At the Multi Commodity Exchange, copper for delivery in far-month November contract fell Rs 4.30, or 1.35 per cent to Rs 313.15 per kg, with an open interest in 71 lotqs.
The metal for delivery in June contract also shed Rs 4.05, or 1.29 per cent to Rs 308.75 per kg, with an open interest of 24,234 lots.
Market analysts attributed the fall in copper futures to a weakening trend at global markets, where it dipped to a three-month low following concerns that the global economic recovery will wane as the European nations step up measures to reduce fiscal deficits.
Meanwhile, copper at the Shanghai fell by 2,500 yuan, or 4.44 per cent to trade at three-month low of 53,850 yuan, while it fell $149.50, or 2.16 per cent at $6,775.50 per tonne at the London Metal Exchange.
