Copper down 0.1% on sluggish demand, global cues

Copper remained weak as prices shed 0.19% to Rs 457.10 per kg in futures trading today as speculators trimmed positions on a weakening global trend.

At the Multi Commodity Exchange, copper for delivery in February fell further by 85 paise, or 0.19%, to Rs 457.10 per kg in a business turnover of 2,324 lots.

Similarly, the metal for delivery in April traded lower by 55 paise, or 0.12%, to Rs 461.95 per kg in 44 lots.

Analysts said offloading of positions by speculators on the back of sluggish demand from consuming industries in the spot market kept pressure on copper prices at futures trade.

Weak global trend where industrial metals retreated as manufacturing data from China fell below expectations also influenced the sentiment, they said.

Meanwhile, copper was little changed at $7,284.50 per tonne at the London Metal Exchange.