Copper shed further ground in futures trade, global cues

Amid weak trend at the London Metal Exchange (LME), copper extended its yesterday's weakness and prices fell by another 0.03 per cent to Rs 441.75 per kg today.

At the Multi Commodity Exchange counter, copper for delivery in April traded 15 paise, or 0.03 per cent down at Rs 441.75 per kg, with a trading volume of 2,546 lots.

The metal for delivery in February also fell by 15 paise, or 0.02 per cent, to Rs 438.90 per kg, with a business turnover of 3,362 lots.

Market analysts said a weak trend at the LME, which shows a surprise rise and concerns on China's tightening policies with a adversely affected demand outlook, mainly weighed on copper futures prices here. 

Meanwhile, at the LME, three-month copper delivery contract dropped by 0.7 per cent, to $9,552 a tonne.