Copper falls by 0.6% as global trend weakens

Copper futures fell 0.62% to Rs 329.90 per kg today as speculators trimmed positions amid a weak trend in global markets.

At the Multi Commodity Exchange, copper for delivery in April declined Rs 2.05, or 0.62%, to Rs 329.90 per kg, in a business turnover of 1,447 lots.

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The metal for delivery in far-month June was trading Rs 2.05, or 0.61% down, at Rs 334.40, in a business volume of 227 lots.

Analysts said a weakening trend in base metals overseas after new-home sales in the US unexpectedly declined, dimming demand prospects for industrial metals, mainly kept pressure on copper futures.

Besides, fall in demand at domestic spot markets, weighed on prices, they said.