BS reported that Indian copper prices moved down by 0.22% to INR 422.05 per kilogram in futures trade as speculators offloaded their positions driven by weak global trend.

At the Multi Commodity Exchange, copper for delivery in November declined by 95 paise or 0.22% to INR 422.05 per kilogram in business turnover of 450 lots. Similarly, copper for delivery in August traded lower by 85 paise or 0.20% to INR 416.90 per kilogram in 8,184 lots.

Market analysts said that speculators offloaded their positions in tandem with a weak global trend as the dollar climbed after better than expected US employment data increased bets that the Federal Reserve will slow record monetary stimulus this year, mainly influenced copper prices at futures trade.

Meanwhile, copper for delivery in three months lost 0.6% at USD 6,747.25 per tonne on the London Metal Exchange.