Copper futures soften on global cues

Copper futures prices fell by 0.31 per cent to Rs 440 per kg today, as speculators reduced their positions on speculations of slower growth in China, the largest consumer.

At the Multi Commodity Exchange counter, copper for delivery in February traded Rs 1.35, or 0.31 per cent down at Rs 440 per kg, with a trading volume of 3,633 lots.

It ended 1.32 per cent higher at Rs 441.35 per kg in the previous session.

The metal for delivery in April also weakened by Rs 1.20, or 0.28 per cent to Rs 443 per kg, with a business turnover of 252 lots.

Analysts said the fall in copper futures was attributed to weakening trend overseas on speculations of a slower growth in China, the world's largest consumer, dampened the demand outlook. 

Meanwhile, copper for three-month delivery slid as much as 0.5 per cent to $9,637.50 a metric tonne on the London Metal Exchange.