Copper falls by 0.9% on overseas cues

The fall was attributed to a weak trend in base metals along with declines in commodities as strengthening dollar eroded demand

Tracking a weak trend in base metals overseas and subdued domestic demand, copper prices fell by 0.87% to Rs 347.10 per kg in futures trade today, as traders reduced positions.

Analysts attributed the fall in copper futures to a weak trend in base metals along with declines in commodities as strengthening dollar eroded demand.

At the Multi Commodity Exchange, copper for delivery in August fell by Rs 3.05 or 0.87% to Rs 347.10 per kg in business turnover of 1,114 lots.

The metal for delivery in far-month November shed Rs 3.10 or 0.87% to trade at Rs 353.65 per kg in a turnover of 59 lots.

Globally, for three-month delivery on the London Metal Exchange, copper traded 1.1% lower at $5,402 per tonne.

All industrial metals also declined on the Shanghai Futures Exchange with copper sliding 1.7%.