Copper down on weak global cues, subdued demand

Tracking a weak trend in global markets, copper prices fell by 0.14% to Rs 448.10 per kg in futures trade today.

At the MCX, copper for delivery in August fell by 65 paise, or 0.14%, to Rs 448.10 per kg, with a business turnover of 703 lots.

The June contract shed 60 paise, or 0.13%, to Rs 444.25 per kg, with an open interest of 9,989 lots.

Market analysts said the fall in copper futures prices was mostly due to a weak trend in metals on the London Metal Exchange after weak economic data from Europe raised concerns that demand may falter.

The three-month copper contract dropped as much as 0.2% to $8,286.50 per tonne at the LME.