Copper down 0.35% on global cues

Subdued demand contributes to downtrend

Amid weak global trend and subdued domestic demand, copper prices traded lower by 0.35% to Rs 436.35 per kg in futures trade today on reduced offtake by speculators.

At the Multi Commodity Exchange, copper for delivery in November declined by Rs 1.55, or 0.35%, to Rs 436.35 per kg in a business turnover of 14,819 lots.

February copper shed Rs 1.45, or 0.33%, to Rs 441.95 per kg in 847 lots.

Market analysts said apart from weak global trend, subdued domestic demand helped copper prices to trade lower at futures trade.

Meanwhile, copper retreated 0.3% to $8,214 a tonne on the London Metal Exchange.