Copper futures down on global cues

Copper prices fell by Rs 3.30 to Rs 409.60 per kg in futures trading today after speculators off-loaded their positions, taking cues from weak global market.

At the Multi Commodity Exchange, copper for delivery in June declined by Rs 3.30, or 0.80% to Rs 409.60 per kg, with a business turnover of 13,364 lots.  

Similarly, the metal for delivery in August lost Rs 3.25, or 0.78% to Rs 415.05 per kg, with an open interest of 900 lots. 

Market analysts said besides a weakening global trend, subdued spot demand also put pressure on the copper futures prices. 

Meanwhile, copper for three-month delivery fell 0.5% to $9,023 a metric tonne on the London Metal Exchange.