Copper down 0.1% on global cues

Analysts attributed the fall in copper futures to a weak global trend

Copper prices declined 0.15% to Rs 406 per kg in futures trade today as speculators trimmed their positions in tandem with a weak global trend.

At the Multi Commodity Exchange, copper for delivery in June declined by 60 paise, or 0.15% to Rs 406 per kg in business turnover of 108 lots.

Similarly, the metal for delivery in April traded lower by 45 paise, or 0.11% to Rs 402.50 per kg in 4,617 lots.

Analysts attributed the fall in copper futures to weak global trend amid concern that economic growth is slowing and default risks are rising in the biggest-user China at a time when global supplies increasing.

Meanwhile, copper for delivery in three months retreated 0.7% to $6,554.25 a tonne on the London Metal Exchange.