Copper futures trade lower on MCX

Copper futures traded lower on MCX as speculators continued to square off positions in domestic markets amid sluggish global cues. Further Weakening overseas trend as data from China missed economists' forecasts that raised concern that demand from the biggest user is faltering has a negative impact on the trade. Besides, subdued spot market demand also put pressure on the trade.

The contract for April delivery was trading at Rs 396.60 /Kg, down by 1.95% or Rs 7.90 from its previous closing of Rs 404.50 /Kg. The open interest of the contract stood at 30,826.00 lots.

The contract for June delivery was trading at Rs 403.40 /Kg, down by 1.96% or Rs 8.05 from its previous closing of Rs 411.45 /Kg. The open interest of the contract stood at 5,894.00 lots on MCX.
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