Copper futures fall 0.29% on weak global cues

Copper futures fell 0.29 per cent to Rs 381.25 per kg today as speculators trimmed their positions amid a weak trend in global markets.
Muted demand from consuming industries at domestic spot market also put pressure on prices.
At the Multi Commodity Exchange, copper for delivery in August declined by Rs 1.10, or 0.29 per cent, to Rs 381.25 per kg, in a business turnover of 64 lots.
The metal for delivery in November fell Rs 1.05, or 0.27 per cent, to Rs 386.30 per kg, in a business volume of 64 lots.
Analysts said a weak trend overseas as inventories tracked by the London Metal Exchange (LME) climbed the most since early March, dispelling concerns about potential shortages, led to the fall in copper prices at futures trade.

Meanwhile, stockpiles rose 15 per cent to 315,925 metric tonnes, bourse data showed.
Besides, sluggish demand at domestic spot market too weighed on metal prices at futures trade.
Globally, copper for delivery in three-month retreated 0.9 per cent to USD 5,841 per tonne at the LME.