Copper futures remain weak on global cues

Tracking a weakening global trend, copper prices fell further by 0.35 per cent to Rs 413 per kg in futures trade today as speculators offloaded positions.
At the Multi Commodity Exchange, copper for delivery in June month declined by Rs 1.45, or 0.35 per cent to Rs 413.00 per kg in business turnover of 20,111 lots.
Similarly, the metal for delivery in August contracts shed Rs 1.15, or 0.27 per cent to Rs 418.05 per kg in 437 lots.
Analysts attributed the fall in copper futures to a weakening global trend before data that will show the pace of the economic recovery in the US, the second-largest metals consumer, mainly weighed on copper prices at futures trade.

Besides, sluggish demand from domestic industries fuelled the downtrend, they said.
Meanwhile, copper for delivery in three months dropped 0.7 per cent to USD 6,430 a metric tonne on the London Metal Exchange.