Copper down by 0.3% on weak global cues

Speculators reduced their positions amidst weak global cues

Copper prices fell by 0.35% to Rs 369.40 per kg in futures trade today on speculators reducing their positions amidst weak global cues.

At the Multi Commodity Exchange, copper for delivery in April fell by Rs 1.30, or 0.35%, to Rs 369.40 per kg in a business turnover of 766 lots.

Similarly, the metal for delivery in June was down by Rs 1.25, or 0.33%, to Rs 374 per kg in 8 lots.

Analysts attributed the fall in copper futures to weak global trend and subdued demand in the domestic spot markets.

Meanwhile, copper for delivery in three months dropped as much as 0.3% to $5,833 per tonne at the London Metal Exchange.