Copper down 0.2% on weak global cues

Metal for delivery in November shed 0.14%

Copper prices fell 0.22% to Rs 421.50 per kg in futures trade today amidst a weak trend in the global market and subdued spot demand.

At the Multi Commodity Exchange, copper for delivery in February next year shed 95 paise, or 0.22%, to Rs 421.50 per kg in a business turnover of seven lots.

The metal for delivery in November shed 60 paise, or 0.14%, at Rs 416.30 per kg with a turnover of 252 lots.

Analysts attributed the fall in copper futures to weak global cues as the dollar climbed, curbing demand for the commodity as an investment.

Besides, subdued demand at domestic spot markets weighed on prices, they said.
 
Globally, copper for delivery in three months traded little changed at $6,736 a tonne on the London Metal Exchange.