Copper falls by 0.3% on global cues

Copper prices declined by 0.26% to Rs 302.80 per kg in futures trade today as participants trimmed their bets, tracking a weak trend in base metals overseas.

Besides, muted spot demand from consuming industries fuelled the downtrend.

At the Multi Commodity Exchange, copper for delivery in far-month April was trading lower by 80 paise, or 0.26% at Rs 302.80 per kg in a business turnover of 54 lots.

Similarly, the metal for delivery in February contracts shed 65 paise, or 0.22% to Rs 298.10 per kg in 2,268 lots.

Analysts attributed the fall in copper futures to weak trend in industrial metals in Shanghai and London on prospects for slower economic growth in China and sustained low oil prices.
 
Globally, the metal dropped as much as 0.8% to 35,070 yuan ($5,331) a metric tonne on the Shanghai Futures Exchange.