Copper futures shed 2.35% on weak global cues, muted demand

Copper prices fell 2.35 per cent in futures trade Thursday as speculators booked profits at prevailing high levels amid low demand at spot markets and weak global cues.

At Multi Commodity Exchange, copper for April declined by Rs 2.35, or 0.52 per cent, to Rs 450.45 per kg in a business turnover of 1,203 lots.

Analysts attributed the fall to off-loading of positions by speculators at prevailing higher levels amid muted demand at the spot markets and a weak trend in global markets.