Copper down by 0.4% on global cues

Weak cues from global market as China released figures showing the country's factory activity eased slightly in April, affected prices

Copper futures traded 0.35% lower at Rs 337.30 today on speculators reducing their positions amid weak global cues.

At the Multi Commodity Exchange, copper for delivery in June fell by Rs 1.30, or 0.38% at Rs 337.30 per kg, in a business turnover of 568 lots.

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Similarly, the metal for delivery in far-month August was down by Rs 1.20, or 0.35%, at Rs 341.70 per kg in six lots.

Analysts attributed the fall in copper futures to weak cues from global market as China released figures showing the country's factory activity eased slightly in April.

China's official manufacturing purchasing managers index, a key gauge of factory activity, fell to 50.1 in April from 50.2 in March, signaling a modest weakening of momentum for the world's second-largest economy despite easy-credit policies and a stronger real-estate market.