Copper futures fall on global cues

NEW DELHI: Tracking a weak global trend, copper prices fell by 0.39 per cent to Rs 421.40 per kg in futures trading today.

At the Multi Commodity Exchange, copper for delivery in August declined by Rs 1.65 or 0.39 per cent to Rs 421.40 per kg in business turnover of 857 lots.

Likewise, the metal for delivery in November shed Rs 1.35, or 0.31 per cent, to Rs 427.25 per kg in 40 lots.

Market analysts attributed the fall in copper futures to speculators offloading their positions and tracking a weak global trend amid concerns of a slow economic growth in China will hurt demand for metals.

Meanwhile, copper for delivery in three months lost 0.7 per cent to USD 6,953.75 a tonne on the London Metal Exchange.