Copper down by 0.4% on global cues

Copper prices fell 0.42% to Rs 317.20 per kg in futures market today as speculators cut down their bets after select base metals weakened in global markets.

At the Multi Commodity Exchange, copper for delivery in April traded lower by Rs 1.65, or 0.42%, to Rs 317.20 per kg, in a business turnover of 2,825 lots.

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Also, metal for delivery in far-month June eased by Rs 1.05, or 0.33%, to Rs 322 per kg in 48 lots.

Market analysts said select base metals weakening at the London Metal Exchange (LME) as a strong US jobs report raised of interest rate hikes soon and concerns remained over demand in top consumer China, weighed on copper prices at futures trade.

At the LME, copper for three-month delivery was down 0.7%, to $4,801.50 per tonne.