Copper futures down 0.12% on muted demand, global cues

Copper prices moved down by 0.12 per cent to Rs 375.20 per kg in futures trading today as speculators cut down their bets, tracking a weak trend at domestic spot market on sluggish demand amid lower global cues.

At the Multi Commodity Exchange, copper for delivery in February declined by 45 paise, or 0.12 per cent, to Rs 375.20 per kg, in a business turnover of 1,812 lots.

Likewise, the metal for delivery in far-month April shed 35 paise, or 0.09 per cent, to Rs 378.75 per kg in 14 lots.

Analysts said trimming of positions by traders owing to sluggish demand in the spot market and a weak trend overseas on rising inventories, mainly influenced copper prices at futures trade.