Copper futures soften on global cues, sluggish spot demand

Copper futures prices fell by 0.59 per cent to Rs 393.30 per kg today amid a weak trend in global markets and sluggish spot demand
Copper for delivery in February traded at Rs 2.35, or 0.59 per cent, down at Rs 393.30 per kg, with a trade volume of one lot at the Multi Commodity Exchange counter.

Likewise, the metal for delivery in November also weakened by Rs 2.20, or 0.56 per cent to Rs 389.60 per kg in a turnover of 4 lots.

It ended 0.60 per cent higher at Rs 391.80 per kg in the previous session. 

Meanwhile, copper contract for three-month delivery was trading lower at $8,575 a tonne at the London Metal Exchange.

Analysts said a weak trend at global markets on concern that China, the world's biggest metal consumer, may take further steps to tighten monetary policy to cool inflation and subdued demand at domestic spot markets, weighed heavy on copper futures prices here.