Copper futures down 1.46% on global cues, subdued demand

Copper prices fell by 1.46 per cent to Rs 316.70 per kg in futures trading today as speculators trimmed positions, tracking a weak trend overseas.
Besides, muted spot demand from consuming industries fuelled the downtrend.
At the Multi Commodity Exchange, copper for delivery in June month declined by Rs 4.70, or 1.46 per cent to Rs 316.70 per kg in business turnover of 41,095 lots.
Similarly, the metal for delivery in far-month August contracts lost Rs 4.15, or 1.27 per cent to Rs 321.65 per kg in 4,844 lots.
Analysts attributed the fall in copper futures to weak trend in global markets where copper tumbled the most since January as industrial metals sank after the Britain's decision to leave the European Union, triggering a rush from riskier assets.

Meanwhile, Copper for delivery in three month sank 4 per cent to USD 4,588 a metric tonne on the London Metal Exchange.