Copper futures remain weak, shed 0.25% on overseas cues

Copper prices drifted further by 0.25 per cent to Rs 332.75 per kg in futures trading today, as participants engaged in reducing their bets in tandem with a weakening global trend.
At the Multi Commodity Exchange, copper for delivery in far-month August eased by 85 paise, or 0.25 per cent to Rs 332.75 per kg in a business turnover of 75 lots.
On similar lines, the metal for delivery in June traded lower by 75 paise, or 0.23 per cent to Rs 328.55 per kg in 6,690 lots.
Analysts attributed the fall in copper futures to a weakening trend where metals from Shanghai to London extended their decline on global growth worries amid a Chinese clampdown on commodity futures trading.

Meanwhile, copper for delivery in three-months fell 0.7 per cent to USD 4,885 a metric tonne on the London Metal Exchange (LME).
The LME Index of six metals had lost 2.3 per cent on Tuesday, the most since March 8, after weak manufacturing data from China, the US and the UK.