Copper futures fall 0.16 per cent on weak global cues

NEW DELHI: Copper prices fell by 0.16 per cent to Rs 406.75 per kg in futures trade today as speculators offloaded their positions even as it strengthened in Shanghai.

At the Multi Commodity Exchange, copper for delivery in April fell 65 paise, or 0.16 per cent, to Rs 406.75 per kg in business turnover of 1,245 lots.

Similarly, the metal for delivery in June traded lower by 50 paise, or 0.12 per cent, to Rs 410.50 per kg in 60 lots.

Analysts attributed the fall in copper futures to subdued spot demand but metals' gain in Shanghai ahead of trade data limited the fall.

Meanwhile, copper for July delivery rose 0.50 per cent to 46,600 yuan (USD 7,487) per tonne at the Shanghai Futures Exchange.