Copper futures fell over 1% during evening trade in the domestic market on Friday as investors & speculators exited their positions in the industrial metal on strength in the US dollar & slow trading in Asian markets with the world’s biggest industrial metals consumer, China shut for the week-long Lunar New Year holiday. Further, a rally in copper prices was spurred by fears over potential disruption of supply from Indonesia & Chile. A stronger dollar makes dollar-denominated assets such as copper costlier for holders of other currencies.
At the MCX, copper futures for February 2017 contract is trading at Rs 401.20/kg, downward by 1.41 %, after opening at Rs 405, against a last closing of Rs 406.95. It touched the intra-day low of Rs 399.85.