Copper futures fall 0.10% on weak global cues

Copper futures fell 0.10 per cent to Rs 464.85 per kg today as speculators trimmed their positions amid a weak trend in global markets.

Muted demand from consuming industries at domestic spot market also put pressure on prices.

At the Multi Commodity Exchange, copper for delivery in June declined by 45 paise, or 0.10 per cent, to Rs 464.85 per kg, in a business turnover of 555 lots.

The metal for delivery in far-month August shed 40 paise, or 0.09 per cent, to Rs 469.90 per kg, in a business volume of 8 lots.

Analysts said trimming of positions by participants, tracking a weak trend overseas and fall in demand at the domestic spot markets, led to the fall in copper prices at futures trade.

Globally, copper for delivery in three-month retreated 0.1 per cent to USD 6,965 per tonne at the LME.