Copper down 0.4% on global cues, subdued demand

Metal for delivery in far-month November traded lower by 0.3%

Amid weak global cues and subdued domestic demand, copper prices fell 0.40% to Rs 437.15 per kg in futures trade today as speculators reduced their positions.

At the Multi Commodity Exchange, copper for delivery in August shed Rs 1.75, or 0.40%, to Rs 437.15 per kg in a business turnover of 711 lots.

Similarly, the metal for delivery in far-month November traded lower by Rs 1.45, or 0.32%, to Rs 444.80 per kg in nine lots.

Analysts attributed the fall in copper futures to weak global trend and subdued demand in the domestic spot market.

Meanwhile, copper for delivery in three months dropped as much as 0.2% to $7,115 per tonne at the London Metal Exchange.