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Copper prices fell by 0.65% to Rs 335.55 per kg in futures trade today as speculators reduced their positions amidst weak global cues.
At the Multi Commodity Exchange, copper for delivery in February fell by Rs 2.20, or 0.65%, to Rs 335.55 per kg in a business turnover of 1,209 lots.
Similarly, the metal for delivery in April was down by Rs 2, or 0.58%, to Rs 340.50 per kg in 34 lots.
Analysts attributed the fall in copper futures to weak global trend where industrial metals tumbled after oil fell to the lowest in almost six years and as the US dollar rose, dampening demand for commodities priced in US dollars.
Moreover, subdued demand in spot markets also put pressure on the prices of the metal, they said.
Meanwhile, copper for delivery in three months dropped as much as 1.1% to $5,423 per tonne at the London Metal Exchange.
