Copper futures remain weak, shed 0.42 pc on global cues

Copper prices drifted lower by 0.42 per cent to Rs 381.85 per kg in futures trading today as speculators engaged in trimming their positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, copper for delivery in June fell by Rs 1.60, or 0.42 per cent, to Rs 381.85 per kg in a business turnover of 9 lots.
Similarly, the metal for delivery in April shed Rs 1.55, or 0.41 per cent, to Rs 377.60 per kg in 1,051 lots.
Analysts said, offloading of positions by participants in line with a weak trend overseas amid signs that supplies are returning, mainly kept copper prices lower at futures trade.

Meanwhile, copper for delivery in three months lost 0.5 per cent on the London Metal Exchange.