Copper Futures Drop Amid Muted Demand
Recent Copper Price Fluctuations
Copper futures have experienced significant fluctuations in recent months.
Declining Prices
On Tuesday, August 13, 2023, copper futures fell 0.53% to Rs 78,610 per kilogram in New Delhi.
This decline was driven by participants cutting their positions due to weak spot demand.
Previous Price Movements
- May 21, 2023: Copper futures dropped 0.5% to Rs 93,180 per kilogram.
- July 10, 2023: Copper futures traded 0.27% lower at Rs 44,090 per kilogram.
- July 13, 2023: Copper futures fell 0.11% to Rs 86,775 per kilogram.
- August 7, 2023: Copper futures slipped 0.77% to Rs 670 per kilogram.
Factors Influencing Copper Prices
The recent decline in copper futures can be attributed to several factors:
- Muted demand in the domestic market
- Participants reducing their exposure due to concerns over weak spot demand
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