Copper prices trade lower 0.98 pct to Rs 438.35 per kg in futures market

Copper prices traded lower 0.98 per cent to Rs 438.35 per kg in futures market Monday as speculators reduced their positions to book profits. Muted demand in the domestic spot market, too, weighed on the prices.

At the Multi Commodity Exchange, copper for delivery in February shed Rs 4.35, or 0.98 per cent, to Rs 438.35 per kg in business turnover of 2,480 lots. Analysts said participants reduced their holdings to book profits at current levels amid weak demand at the domestic spot market.