Copper futures down on global cues

Amid a weak trend in global markets and subdued domestic demand, copper futures prices fell 1.93 per cent to Rs 387.85 per kg today.

Profit-booking by speculators also weighed on the copper futures prices.  

At the Multi Commodity Exchange, copper for delivery in November-month contract traded at Rs 7.65, or 1.93 per cent down at Rs 387.85  per kg, with a trade volume of 8 lots.

It ended 1.5 per cent down at Rs 395.50 per kg in the previous session.

The metal for delivery in the month of February also weakened by Rs 7.10, or 1.78 per cent to Rs 392.45 per kg, with a business volume of 2 lots. 

Analysts said a weak trend in copper and other base metals in the global markets on concern that China may step up measures  to tighten economic policy, mainly put pressure on the copper futures here.

Meanwhile, copper for three-month delivery on the London Metal Exchange fell 2.3 per cent to $8,625 a metric tonne, while at Shanghai, it declined by the daily 5 per cent limit to 65,640 yuan ($9,899) per tonne.