Copper softens in futures trade on global cues, down 0.14%

Copper prices drifted lower by 0.14 per cent to Rs 320.20 per kg in futures trade today as speculators trimmed their positions amid a weak trend in global markets.
Besides, muted demand from consuming industries at domestic spot market weighed on prices.
At the Multi Commodity Exchange, copper for delivery in August month eased by 45 paise, or 0.14 per cent, to Rs 320.20 per kg in business turnover of 13,724 lots.
Likewise, the metal for delivery in far-month November contracts shed 40 paise, or 0.12 per cent, to Rs 326.85 per kg in 350 lots.
Analysts said a weak trend overseas and subdued demand from consuming industries at the domestic markets led to fall in copper prices at futures trade here.

Globally, copper for delivery in three-month fell 0.4 per cent at the London Metal Exchange.