Copper down by 0.4% on global cues

Copper prices fell 0.44% to Rs 376.35 per kg in futures trade today as speculators engaged in trimming positions amid a weak global trend.

At the Multi Commodity Exchange, copper for delivery in far-month June fell by Rs 1.65, or 0.44%, to Rs 376.35 per kg in a business turnover of 317 lots.

In a similar fashion, the metal for delivery in April declined by Rs 1.60, or 0.43%, to Rs 371.70 per kg in 930 lots.

Market analysts said the fall in copper prices at futures trade was due to offloading of positions by speculators, taking weak cues from global market as investors weigh the strength of economic growth in US.
 

Meanwhile, copper for delivery in three months little changed at $5,845.50 a tonne on London Metal Exchange.