Copper futures fall 0.30 per cent on weak global cues

NEW DELHI: Tracking a weak global trend and subdued domestic demand, copper prices fell by 0.30 per cent to Rs 403.40 per kg in futures trade today as speculators reduced positions.

At the Multi Commodity Exchange, copper for delivery in this month fell Rs 1.20, or 0.30 per cent, to Rs 403.40 per kg in business turnover of 2,077 lots.

The metal for delivery in August also fell by Rs 1.05, or 0.26 per cent, to Rs 407.10 per kg in 75 lots.

Analysts attributed the fall in copper futures to weak global cues on concern that a probe into financing transactions at China's Qingdao Port will curb demand for the metal.

Meanwhile, copper for delivery in three months traded little changed at USD 6,774 a tonne on the London Metal Exchange and at Shanghai Futures Exchange it traded at 48,250 yuan (USD 7,722) per tonne.