Copper down 0.6% on weak global cues

Metal for delivery in far-month February last year contracts shed 0.58%

Tracking a weak global trend, copper prices fell by 0.68% to Rs 451.35 per kg in futures trade today as speculators offloaded their positions.

At the Multi Commodity Exchange, copper for delivery in November fell Rs 3.10, or 0.68%, to Rs 451.35 per kg in business turnover of 1,910 lots.

Similarly, the metal for delivery in far-month February last year contracts shed Rs 2.70, or 0.58%, to Rs 461.60 per kg, clocking a turnover of 65 lots.

Analysts attributed the fall in copper futures to weak global cues as metal declined from one-month high after US payrolls rose less than forecast, curbing demand prospects for industrial metals in the world's largest economy.
 
Meanwhile, copper for three-month delivery fell 0.5% to $7,296 a tonne on the London Metal Exchange.