Copper futures down 0.38% on low demand, global cues

Copper prices moved down by 0.38 per cent to Rs 442.30 per kg in futures trade today as speculators trimmed positions, easing demand at domestic spot market amid weak global cues.

At the Multi Commodity Exchange, copper for delivery in November fell by Rs 1.70, or 0.38 per cent, to Rs 442.30 per kg in a business turnover of 139 lots.

Likewise, the metal for delivery in August contracts shed Rs 1.40, or 0.32 per cent, to Rs 436.45 per kg in 1,027 lots.

Analysts said cutting down of positions by traders on the back of slump in demand from consuming industries and a weak trend overseas weighed on copper prices in futures trade.