Copper futures down 0.67% on weak global cues

Amid a weak trend at the London Metal Exchange and subdued domestic demand, copper prices declined by 0.67% to Rs 393.25 per kg in futures trade today. 

At the Multi Commodity Exchange, copper for August delivery fell by Rs 2.65, or 0.67%, to Rs 393.25 per kg, with a business turnover of 15,020 lots.

Likewise, the metal for November delivery shed Rs 2.60, or 0.65%, to Rs 401.35 per kg, with a trade turnover of 1,389 lots.  

Analysts said a weakening trend in base metals at the London Metal Exchange following US sovereign debt rating downgrade by the Standard and Poor's, mainly put pressure on the copper futures prices here.