Copper futures ease 0.16 per cent, tracking global cues

Copper futures traded 0.16 per cent lower at Rs 404.50 today as speculators cut down their positions at prevailing levels amid a weak trend overseas.

In futures trading at Multi Commodity Exchange, copper for delivery in far-month April fell 65 paise, or 0.16 per cent at Rs 404.50 per kg, in a business turnover of 3 lots.

Similarly, the metal for February was trading down 55 paise, or 0.14 per cent at Rs 400.45 per kg in 757 lots.

Analysts attributed the fall in copper futures to trimming of positions coupled with weak trend in base metals at the London Metal Exchange (LME).
 

Meanwhile, copper for three-month delivery fell 0.4 per cent at the LME.