Copper down 0.5% on weak global cues

Copper for delivery in June traded lower by 0.50%

Amid a weak trend in the global market and subdued spot demand, copper prices fell 0.51% to Rs 406.75 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in August shed Rs 2.10, or 0.51%, to Rs 406.75 per kg in business turnover of 2,118 lots.

Similarly, copper for delivery in June traded lower by Rs 2, or 0.50%, to Rs 401.80 per kg in 2,075 lots.

Analysts attributed the fall in copper futures to weak global cues amid signs of slowing in China and uncertainty about the future of stimulus in the US.

Globally, copper for delivery in three months fell 0.2%, to $6,740 a tonne on the London Metal Exchange.