Copper futures fall 0.38 pc on global cues

Copper prices declined by 0.38 per cent to Rs 367.35 per kg in futures trade today as participants indulged in trimming positions, tracking a weak trend in base metals overseas.
Besides, muted spot demand from consuming industries fuelled the downtrend.
At the Multi Commodity Exchange, copper for delivery in June shed Rs 1.40, or 0.38 per cent, to Rs 367.35 per kg in a business turnover of 127 lots.
Similarly, the metal for delivery in August traded lower by Re 1, or 0.27 per cent, to Rs 371.30 per kg in 14 lots.
Analysts attributed the fall in copper futures to a weak trend in global markets, after a survey showing factory activity contracted in the world's second-largest economy China in May for the first time in almost a year, put pressure on the base metals.