Copper down by 0.2% on global cues

Speculators trimmed their positions amid weak global cues

Copper futures traded 0.22% lower at Rs 368.15 today on speculators trimming their positions amid weak global cues.

At Multi Commodity Exchange, copper for delivery in far-month February next year fell 80 paise or 0.22% at Rs 368.15 per kg, in a business turnover of five lots.

Similarly, the metal for delivery in September was down 75 paise, or 0.21%, at Rs 362.55 per kg in 697 lots.

Analysts attributed the fall in copper futures to weak cues from global market where it retreated from 7-week high after data showed factory prices slumping in China.

Meanwhile, copper on the London Metal Exchange dropped 0.6% to $5,337 per tonne, while metal on the Shanghai Futures Exchange declined 0.9%.