Copper down 0.8% on weak global cues, tepid demand

Copper prices moved down by 0.78% to Rs 335.35 per kg in futures trade today as speculators indulged in reducing their positions, driven by a weak trend in base metals overseas.

Besides, low demand from consuming industries in the spot market weighed on prices.

At the Multi Commodity Exchange, copper for delivery in August month fell by Rs 2.65, or 0.78% to Rs 335.35 per kg in business turnover of 3,684 lots.

Likewise, the metal for delivery in far-month November traded lower by Rs 2.55, or 0.74% to Rs 341.85 per kg in 58 lots.

Analysts attributed the fall in copper prices at futures trade to a weak trend in global markets where it lost 1%.