MUMBAI: Copper futures witnessed a marginal decline of 0.08% on Monday, settling at ₹826.15 per kilogram on the Multi Commodity Exchange (MCX). The dip in prices is attributed to reduced positions by market participants amidst subdued demand in the domestic market.
The February delivery contracts fell by 65 paise to ₹826.15 per kilogram, with a total business turnover of 5,985 lots. Analysts have pointed out that weak demand in the spot market and speculative position trimming were the primary reasons behind the decline.
Despite this short-term dip, copper remains a crucial industrial metal, with demand trends likely to recover as market conditions stabilize. Investors are expected to closely monitor global cues and domestic developments for further price movements.
Source: Web Team, C6N
