Copper futures shed 0.46% on muted demand

Copper futures fell 0.46 per cent to Rs 444.05 per kg today as speculators booked profit at prevailing high levels amid low demand at spot markets.
At Multi Commodity Exchange, copper for delivery in November declined by Rs 2.05, or 0.46 per cent, to Rs 444.05 per kg in a business turnover of 677 lots.
The metal for delivery in far-month February next year shed Rs 1.95, or 0.43 per cent, to Rs 449.15 per kg in a business volume of 30 lots.
Analysts attributed the fall to offloading of positions by speculators at prevailing higher levels coupled with subdued spot demand, but a firm trend in metal at the London Metal Exchange (LME) cushioned the fall here.

Globally, copper for delivery in the next three months ended 0.5 per cent higher at USD 6,857 per tonne yesterday as a retreat in the dollar after its biggest one-week gain this year tempted buyers back to the metal.