Copper futures fall on low demand; weak global cues

Copper futures fell 0.29 per cent

to Rs 456.90 per kg today as speculators cut down their positions amid a weak demand at the domestic spot markets.

Besides, a weak overseas trends also weighed on sentiments.

At the Multi Commodity Exchange, copper for delivery in far-month August declined by Rs 1.35, or 0.29 per cent to Rs 456.90 per kg in a business turnover of 40 lots.

The metal for delivery in June shed Rs 1.20, or 0.27 per cent to Rs 450.70 per kg in a business volume1 of 538 lots.

Analysts said a weak trend at the domestic spot markets due to low demand from consuming industries and weak global cues, weighed on copper prices in futures trade here.