New Delhi, Nov 14 (PTI) Copper prices fell by 0.07 percent to Rs 450.60 per kg in futures trade today asparticipants indulged in reducing positions amid subdueddemand from consuming industries in the spot market.
At the Multi Commodity Exchange, copper for current monthdeclined by 30 paise, or 0.07 per cent, to Rs 450.60 per kg ina business turnover of 875 lots.
On similar lines, the metal for delivery in far-monthFebruary next year traded lower by 10 paise, or 0.02 per cent,to Rs 456.40 per kg in 25 lots.
Analysts said offloading of positions by traders due toa weak trend at the domestic spot markets amid muted demandfrom consuming industries, led to the fall in copper prices atfutures trade here.
Besides, China's industrial value-added output expanded6.2 per cent year-on-year in October, slowing from 6.6 percent growth in September, too weighed on prices, they added.
China is the world's biggest consumer of base metals.
PTI SUN KPS ADIMKJ.
This is unedited, unformatted feed from the Press Trust of India wire.