Copper declines on weak global cues

November, Feb contracts down 0.27% and 0.22% as metal loses on LME

Copper shed Rs 1.15 to Rs 425.45 per kg in futures trade today as speculators offloaded their positions in tandem with a weak global trend.

At the Multi Commodity Exchange, copper for delivery in November declined by Rs 1.15, or 0.27 per cent to Rs 425.45 per kg in business turnover of 7,864 lots.

The February contract traded lower by 95 paise, or 0.22 per cent to Rs 431.30  per kg in 766 lots.

Market analysts attributed the fall in copper futures to weak global trend.

Meanwhile, copper for delivery in three months fell by 0.6 per cent to $7,672 a metric tonne on the London Metal Exchange.