Copper down by 0.8% on overseas cues

Tracking a weak trend in base metals overseas and subdued domestic demand, copper prices fell by 0.79% to Rs 333.30 per kg in futures trade today, as traders trimmed positions.

Analysts attributed the fall in copper futures to a weak trend in base metals following disappointing China's latest PMI data.

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China's April official manufacturing purchasing managers index fell to 50.1 from 50.2 in March, signalling a modest weakening of momentum for the world's second-largest economy despite easy-credit policies and a stronger real-estate market.

At the Multi Commodity Exchange, copper for delivery in June fell by Rs 2.65, or 0.79%, to Rs 333.30 per kg, in a business turnover of 1,290 lots.

The metal for delivery in far-month August also fell by a similar margin to trade at Rs 337.65 per kg in a turnover of nine lots.