Copper futures fall 0.63% on weak global cues

Copper prices fell 0.63 per cent to Rs 313.80 per kg in futures trade today as speculators offloaded their positions, tracking a weak trend in base metals in global market.
In futures trading at the Multi Commodity Exchange, copper for delivery in far-month August contracts was trading lower by Rs 2, or 0.63 per cent, to Rs 313.80 per kg in business turnover of 894 lots.
Similarly, the metal for delivery in June traded lower by Rs 1.90, or 0.61 per cent, to Rs 309.20 per kg in 47,584 lots.
Analysts attributed the fall in copper futures to a weak trend in metal at the London Metal Exchange (LME) as strengthening dollar, spurred losses in crude oil to base mtals after minutes of the Federal Reserve's last meeting brightened e prospect of a June interest-rate hike.

Meanwhile, copper for delivery in three months was down 0.4 per cent at USD 4,592.50 per tonne at the LME.