Copper falls by 0.1% on global cues, low demand

A stronger dollar, which makes raw materials more expensive in other currencies, too weighed on prices

Amid a weak trend in global market and easing spot demand, copper prices fell marginally 0.09% to Rs 345.10 per kg in futures trade today.

At Multi Commodity Exchange, copper for delivery in far-month November shed 30 paise, or 0.09%, to Rs 345.10 per kg in a business turnover of 36 lots.

The metal for delivery in August traded lower by 25 paise, or 0.07%, to Rs 338.35 per kg in 773 lots.

Analysts attributed the fall in copper futures to a weak trend in base metals at the London Metal Exchange (LME) on rising supply and slowing Chinese demand.

Besides, a stronger dollar, which makes raw materials more expensive in other currencies, too weighed on the metal futures here.

Globally, copper for delivery in three months fell 1.3% at to $5,202.50 at the LME, the lowest level since 2009. The metal on the Shanghai Futures Exchange also slid to the lowest since 2009.

Meanwhile, copper inventories monitored by the London Metal Exchange have surged 92% in 2015.