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Copper futures trade lower on tepid demand

01 Feb 2023 Evaluate
Copper futures traded lower on MCX, due to liquidation of portfolios by the speculators tracking tepid demand from industrial consumers. Moreover, stronger dollar and weak international trend also fuelled the down ward trend.

The contract for February delivery was trading at Rs 786.40 down by 0.15% or Rs 1.20 from its previous closing of Rs 787.60. The open interest of the contract stood at 4317 lots.

The contract for January delivery was trading at Rs 783.45 down by 0.08% or Rs 0.65 from its previous closing of Rs 784.10. The open interest of the contract stood at 267 lots on MCX.