Copper down by 0.4%, hurt by weak global cues

Copper prices fell 0.45% to Rs 365.20 per kg in futures trade today as speculators engaged in trimming positions amid a weak global trend.

At Multi Commodity Exchange, copper for delivery in far-month February next year was trading Rs 1.80, or 0.45%, lower at Rs 365.20 per kg in a business turnover of 15 lots.

The metal for delivery in November eased Rs 1.55, or 0.44%, to Rs 359.65 per kg in 903 lots.

Market analysts said the fall in copper prices is due to offloading of positions by speculators, taking weak cues from the global market as investors weighed China's economic slowdown and global supply disruptions ahead of the Federal Reserve's decision on raising borrowing costs.
 
Meanwhile, copper for delivery in three months slid 0.6% to $5,314 a tonne on the London Metal Exchange.