Copper falls by 0.3% on weak global cues

Copper futures fell 0.28% to Rs 317 per kg today as speculators trimmed positions amid weak trend in the global markets.

Moreover, muted demand at domestic spot markets also put pressure on prices.

At the Multi Commodity Exchange, copper for delivery in April next year declined by 90 paise or 0.28% to Rs 317 per kg in a business turnover of seven lots.

The metal for delivery in February fell by 85 paise or 0.27% to Rs 312.45 per kg in a business volume of seven lots.

Analysts said a weak trend in copper in the global market after climbing the most in over two months and subdued demand at the domestic spot markets, weighed on copper futures.
 
Globally, copper for delivery in three-months fell 0.4% at $4,667.5 per tonne at the London Metal Exchange.