Copper futures weaken global cues, sluggish demand

Copper prices traded marginally lower at Rs 435.60 per kg in futures trade today on weak overseas trend and sluggish domestic demand.

Sentiment turned bearish as copper dropped in London after industrial production in China, the world's largest buyer, grew slower than economists forecast.

At the MCX, copper for delivery in June traded marginally lower by 20 paisa, or 0.05%, to Rs 435.60 per kg, with a business turnover of 18,844 lots.

The August contract traded lower by the same margin to Rs 439.55 per kg, with an open interest of 1,015 lots.

Market analysts said fall in copper futures prices was mostly due to a weak trend at the London Metal Exchange.

They said sluggish domestic demand further fueled the downtrend.

Meanwhile, copper fell 0.5% to $8,067 a tonne on the London Metal Exchange.