 "Copper falls by 0.8% on weak global cues")
Copper prices fell by 0.82% to Rs 418.40 per kg in futures trade today after speculators trimmed positions, tracking a weak global trend.
At the Multi Commodity Exchange, copper for delivery in August fell by Rs 3.45, or 0.82%, to Rs 418.40 per kg in business turnover of 4,364 lots.
In a similar fashion, the metal for delivery in far-month November declined by Rs 3.20, or 0.75%, to Rs 425.35 per kg in 264 lots.
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Market analysts said the fall in copper prices at futures trade was due to off-loading of positions by speculators, taking weak cues from global market after a preliminary reading of manufacturing in China, the biggest user, fell below expectations.
Meanwhile, copper for delivery in three months fell 0.8% to $6,986 a tonne on the London Metal Exchange.
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