Copper prices moved down by Rs 5 to Rs 426.50 per kg in futures trade today as speculators reduced their positions amid a weak trend at the London Metal Exchange.
At the Multi Commodity Exchange, copper for February delivery moved down by Rs 5, or 1.16%, to Rs 426.50 per kg, with a business volume of 56 lots.
Similarly, the metal for August delivery shed Rs 2.65, or 1.11%, to Rs 416.65 per kg, with a trade volume of 14,957 lots.
Market analysts said offloading of positions by speculators amid a weak trend at the London Metal Exchange (LME) as concern that the US economic recovery may be faltering spurred a global sell-off in commodities, led to the fall in copper futures prices.
Meanwhile, copper for three-month delivery fell 1.3% to $9,230.25 a tonne on the London Metal Exchange, the lowest level since June 29.
