Copper falls by 0.5% on global cues

Copper prices declined by 0.51% to Rs 357.50 per kg in futures market today as speculators offloaded positions in tandem with a weak global trend.

Further, low demand from consuming industries fuelled the downtrend.

At the Multi Commodity Exchange, copper for delivery in April fell by Rs 1.85, or 0.51%, to Rs 357.50 per kg in a business turnover of 71 lots.

Similarly, the metal for delivery in February traded lower by Rs 1.75, or 0.49%, to Rs 353.20 per kg in 1,671 lots.

Analysts attributed the fall in copper futures to weak trend in base metals at the London Metal Exchange as the dollar rose against the euro, making commodities priced in the Greenback more expensive.
 
Globally, copper for delivery in three months dropped 0.9% to $5,652 a metric tonne on the London Metal Exchange.