Copper declines 0.5% on global cues

Copper futures today traded 0.50 per cent lower after speculators trimmed their positions triggered by a weakening trend in the global markets.

Besides, subdued demand at domestic spot markets also put pressure on the metal prices.

At the Multi Commodity Exchange, April copper eased by Rs 2.25, or 0.50 per cent, to Rs 449.40 per kg in a business turnover of 698 lots.    

The February delivery fell by Rs 2.15, or 0.48 per cent, to Rs 445.05 per kg in a turnover of 9,988 lots.

Analysts attributed fall in copper prices at futures trade to a weakening global trend as optimism about the Federal Reserve plans to expand economic stimulus faded and the dollar strengthened, reducing appeal of commodities. 

Meanwhile, copper for delivery in three months fell 0.6 per cent to USD 8,079.25 a tonne on the London Metal Exchange.