Copper down 0.1% on overseas cues

Metal for delivery in August down 0.02%

Copper futures traded a shade lower at Rs 439.20 per kg as speculators trimmed positions amidst a weak trend in global markets.

At the Multi Commodity Exchange, copper for delivery in far-month November eased by 40 paise, or 0.09%, to Rs 439.20 per kg in a business turnover of 7 lots.

The metal for delivery in August shed 10 paise, or 0.02%, to Rs 431.85 per kg in a business volume of 401 lots.

Analysts said apart subdued domestic demand, the metal's weakness at the London Metal Exchange (LME) after Freeport-McMoRan Inc received approval from Indonnesia to resume exporters from its Grasberg mine, weighed on prices at futures trade here.
 

Globally, copper for delivery in three-months traded 0.05% lower at $7,090 per tonne at the LME.