Copper futures marginally down on global cues, low demand

Tracking a weak trend overseas and muted demand in the domestic spot markets, copper prices fell 0.06 per cent to Rs 326.10 per kg in futures trade today as speculators cut down their positions.
At the Multi Commodity Exchange, copper for delivery in February next year eased by 20 paise, or 0.06 per cent, to Rs 326.10 per kg, in a business turnover of 18 lots.
On similar lines, the metal for delivery in November was trading down by 15 paise, or 0.05 per cent, to Rs 320 per kg in 488 lots.
Marketmen attributed the fall in copper prices at futures trade to a weak trend in metal overseas as the dollar rose on prospects for an increase in US interest rates this year.

Globally, copper for delivery in three months retreated 0.9 per cent to USD 4,756 per tonne on the London Metal Exchange, marking the longest streak of losses since August 30.