Copper futures soften on global cues

Copper futures prices fell by 0.25 per cent to Rs 414.95 per kg today, as speculators indulged in reducing their positions, amid a weak trend in global markets.

At the Multi Commodity Exchange counter, copper for delivery in February traded Rs 1.05, or 0.25 per cent down at Rs 414.95 per kg, with a trade volume of 5,540 lots.

The metal for delivery in April also weakened by Re one, or 0.24 per cent to Rs 417.10 per kg, with a business turnover of 630 lots.

It ended 0.60 per cent higher at Rs 398.35 per kg in the previous session.

Analysts said a weak trend at the London Metal Exchange (LME), where copper fell by 0.9 per cent mainly put pressure on the metal prices in futures trade here.

Meanwhile, the LME Index of prices for six industrial metals, including copper and aluminium retreated 0.9 per cent yesterday, amid concerns over Europe's debt problems and China's monetary tightening.