Copper softens in futures trade on global cues

Copper prices declined by 0.81 per cent to Rs 412.40 per kg in futures trade today as speculators trimmed positions amid a weak trend overseas.

At the Multi Commodity Exchange, copper for delivery in June eased by Rs 3.35, or 0.81 per cent, to Rs 412.40 per kg in a business turnover of 10,177 lots.

Likewise, the metal for delivery in August shed Rs 3.25, or 0.78 per cent, to Rs 414.55 per kg in 527 lots.

Market analysts attributed the fall in copper futures to a weak global trend.

Meanwhile, copper retreated 0.5 per cent to USD 6,847.50 a tonne on the London Metal Exchange.