Copper futures edge lower on weak global trend

Amid a weak trend in the global market and subdued spot demand, copper prices fell marginally by 0.08 per cent to Rs 386.20 per kg in futures trade today.
At Multi Commodity Exchange, copper for delivery in August shed 30 paise, or 0.08 per cent, to Rs 386.20 per kg business turnover of 12 lots.
Also, metal for delivery in June was trading down 15 paise, or 0.04 per cent, at Rs 381.20 per kg in 210 lots.
Analysts attributed the fall to weak global cues after the International Monetary Fund (IMF) cut its growth forecast for the US, adding to concerns that global demand for industrial metals will weaken.

Meanwhile, IMF said yesterday the US economy would grow at 2.5 per cent this year, down from an earlier forecast of 3.1 per cent, because of a stronger dollar, weaker oil sector and a port strike on the West Coast.
Besides, subdued demand at domestic spot markets weighed on the prices, they said.
Globally, copper for delivery in the three months traded little changed at USD 5,920 a tonne on the London Metal Exchange while in Shanghai, metal for delivery in August dropped 1.2 per cent to 42,880 yuan (USD 6,909) a tonne.