Copper down by 0.7% on global cues

Copper prices declined by 0.69% to Rs 317 per kg in futures trade today as participants indulged in trimming positions, tracking a weak trend in base metals overseas.

Besides, subdued spot demand from consuming industries fuelled the downtrend.

At the Multi Commodity Exchange, copper for delivery in current month fell by Rs 1.80 or 0.69% to Rs 317 per kg in a business turnover of 1,252 lots.

Similarly, the metal for delivery in far-month April contracts traded lower by Rs 1.55 or 0.60% to Rs 321.20 per kg in 34 lots.

Analysts attributed the fall in copper futures to weak trend in global markets after industrial metals retreated amid anxiety over the health of the global economy.