Copper futures fall on global cues

Copper futures prices fell by 0.30% to Rs 420.55 per kg today as speculators reduced their positions, driven by weak global trends.

At the Multi Commodity Exchange, copper for delivery in April declined by Rs 1.35, or 0.30%, to Rs 420.55 per kg, with a business volume of 4,788 lots.

Similarly, the metal for delivery in June lost Rs 1.20, or 0.28%, to Rs 425.50 per kg, with a trade volume of 377 lots.

Analysts said weak trend in copper in Shanghai where prices plunged more than 2%, following overnight losses at the London Metal Exchange on fears that high oil prices would hurt global economic growth, mainly kept pressure on the metal prices at futures trade today.