Copper down by 0.3% as global trend weakens

Copper futures fell 0.27% to Rs 316.30 per kg today as speculators trimmed positions amid a weak trend in global markets.

At the Multi Commodity Exchange, copper for delivery in April declined 85 paise, or 0.27%, to Rs 316.30 per kg, in a business turnover of 487 lots.

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The metal for delivery in far-month June was trading 85 paise, or 0.26% down, at Rs 321.25, in a business volume of 16 lots.

Analysts said a weakening trend in base metals overseas and fall in demand at domestic spot markets, mainly weighed on copper futures.

Globally, copper for delivery in three months slid as much as 0.3% to $4,795 per tonne at the London Metal Exchange.