Copper declines 0.47% on overseas cues

Copper futures declined 0.47 per cent to Rs 438 per kg in the evening session futures trading today as speculators trimmed positions amidst a weak trend in global markets.
At the Multi Commodity Exchange, copper for delivery in November declined by Rs 2.05, or 0.47 per cent, to Rs 438 per kg in a business turnover of 90 lots.
Likewise, the metal for delivery in August shed Rs 2, or 0.46 per cent, to Rs 430.20 per kg in 3,015 lots.
MCX remained closed for morning session trading on account of "Id-ul-Fitr".
Analysts said besides weak trend overseas, subdued demand from consuming industries in the spot market, kept pressure on copper prices at futures trade.

Globally, copper for delivery in three months declined 0.2 per cent to USD 7,106 per tonne at the London Metal Exchange.