Copper futures fall 0.49% on global cues, subdued demand

Tracking a weak global trend, copper prices fell 0.49 per cent to Rs 418.40 per kg in futures trade today as speculators trimmed positions.
Besides, sluggish demand from consuming industries in the spot market further fuelled the downtrend.
At the Multi Commodity Exchange, copper for delivery in August fell by Rs 2.05, or 0.49 per cent, to Rs 418.40 per kg in a business turnover of 11,048 lots.
Similarly, the metal for delivery in November shed Rs 1.95, or 0.43 per cent, to Rs 427.35 per kg in 452 lots.
Analysts attributed the fall in copper futures to weak global trend where the metal fell to seven-week low after the German and French economies were weaker than projected and China's production of the metal was the highest since November.

Meanwhile, copper for delivery in three months declined 0.2 per cent to USD 6,872 a metric tonne after earlier reaching USD 6,855, the lowest since June 25 at the London Metal Exchange.