Copper down by 0.34% in futures trade

Amid a weak trend on the London Metal Exchange and sluggish spot demand, copper prices fell by 0.34% in futures trade today as speculators reduced their positions.

At the Multi Commodity Exchange, copper for delivery in August fell by Rs 1.45, or 0.34%, to Rs 423.55 per kg, with a business turnover of 2,824 lots.

The metal for delivery in November lost 80 paise, or 0.18%, to Rs 435.10 per kg, with a business volume of 279 lots. 

Market analysts said a weakening trend on the London Metal Exchange (LME), where metals dropped after remaining firm for six continuous days amid sluggish domestic demand, mainly put pressure on copper futures here.