Copper traded marginally lower by 75 paise, or 0.75 per cent, to Rs 353.70 per kg in futures trading today, as speculators booked profits amid weakening global trend.
Sentiment turned bearish after copper dropped in global markets, on speculation that China may add to tightening measures, raising concern that economic growth may witness a slowdown, analysts said.
Besides, slack demand at physical markets also kept pressure on the metal futures here. At the Multi Commodity Exchange counter, copper for November delivery fell by 0.75 per cent, or Rs 0.75, to Rs 353.70 per kg, with an open interest of 31,982 lots.
Similarly, the metal for delivery in February traded lower by the same margin at Rs 355.80 per kg, with an open interest of 2,268 lots.
Analysts said profit booking by speculators and weakness in the metal on the London Metal Exchange, put pressure on the copper futures here. Meanwhile, copper for three-month contract declined 0.3 per cent to $7,596 a metric tonne on the London Metal Exchange.
