Copper futures fall 0.33 pc on weak global cues

Copper futures fell 0.33 per cent to Rs 450.15 per kg today as speculators trimmed their positions amid a weak trend in global markets.

Muted demand from consuming industries at the domestic spot market also put pressure on prices.

At the Multi Commodity Exchange, copper for delivery in current month declined by Rs 1.50, or 0.33 per cent, to Rs 450.15 per kg, in a business turnover of 412 lots.

The metal for delivery in far-month August fell Rs 1.45, or 0.32 per cent, to Rs 456.25 per kg, in a business volume of 41 lots.

Analysts said a weak trend overseas with pressure from escalating trade tensions between the US and top metals consumer China, putting pressure on commodity and financial markets, largely weighed on copper prices at futures trade here.

Sluggish demand at the domestic spot market too weighed on prices.

Globally, copper for delivery in three-month was down 0.4 per cent to USD 6,731 per tonne at the London Metal Exchange (LME) and the most-traded contract for metal on the Shanghai Futures Exchange lost 0.7 per cent to 51,510 yuan (USD 7,883.86) per tonne.