Copper futures down 1.75% on global cues, low demand

Copper prices fell by 1.75 per cent to Rs 409.00 per kg in futures trade today as speculators trimmed positions amid a weak global trend.
Besides, subdued demand from consuming industries at domestic spot market, put pressure on prices.
In futures trading at the Multi Commodity Exchange, copper for delivery in August fell by Rs 7.30, or 1.75 per cent, to Rs 409.00 per kg in a business turnover of 503 lots.
Likewise, the metal for delivery in June shed Rs 6.85, or 1.66 per cent, to Rs 404.65 per kg in 19,121 lots.
Analysts attributed the fall in copper futures to a weak global trend where base metals declined as investors await housing data from the US, the world's second-biggest consumer.

Meanwhile, copper for delivery in three months was 1.1 per cent lower at USD 6,311 a metric tonne on the London Metal Exchange.