MUMBAI: Copper futures experienced a slight dip on Wednesday, as the price dropped by 0.02% to Rs 822.35 per kilogram, driven by reduced market activity and weak demand in the domestic market. The decline occurred on the Multi Commodity Exchange, where the copper contracts for December delivery fell by 20 paise, with a trading volume of 8,309 lots.
The muted demand in the spot market led participants, particularly speculators, to trim their positions, impacting the futures prices. Experts suggest that weak industrial demand, coupled with a slowdown in key sectors, is contributing to the overall reduction in copper prices. This decline in copper futures is part of a broader trend observed in the commodities market, where fluctuations in demand and global economic uncertainties continue to influence pricing.
As copper plays a crucial role in various industries, including electrical, construction, and manufacturing, its price movement often reflects broader economic trends. Investors and industry experts are closely monitoring these developments for any further signals of price instability.
Source: Web Team, C6N
