Copper down 0.4% on global cues

European concerns took the metal down today

Copper prices fell by Rs 0.44% to Rs 416.50 per kg in futures trade today as speculators trimmed positions driven by weak cues from overseas market.

Sentiment turned bearish after copper declined in overseas markets on concerns that Europe's debt crisis is hurting the region's biggest economy and the outlook for metals demand.

At the Multi Commodity Exchange, copper for delivery in August declined by Rs 1.85, or 0.44%, to Rs 416.50 per kg, with a business turnover of 17,231 lots.

The November contract shed Rs 2.15, or 0.44%, to Rs 422.20 per kg in 1,285 lots.

Marketmen attributed the fall in copper futures to weak global trend.

Meanwhile, copper fell 0.7% to $7,528 a tonne on the London Metal Exchange.