MCX Copper Declines Over 1%

Tracking a weak global trend, copper prices declined by over 1% to Rs 452.75 per kg in futures trade today as speculators trimmed their positions.

At the Multi Commodity Exchange, copper for delivery in November softened by Rs 5.20, or 1.14%, to Rs 452.75 per kg, with a business turnover of 9,596 lots. February copper traded lower by Rs 4.90, or 1.10%, to Rs 457.85 per kg, with a business turnover of 762 lots.

 Marketmen said speculators offloaded positions in tandem with a weak global trend after data from top consumer China showed manufacturing activity steadying, but not improving, putting pressure on copper futures prices here.

Meanwhile, copper for delivery in three months declined by $57.75, or 0.69%, to $8,292.25 a tonne on the London Metal Exchange in early trade today. Via

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