Copper futures fall 0.66 pc on global cues

NEW DELHI: Tracking a weak trend overseas, copper prices fell by 0.66 per cent to Rs 397.65 per kg in futures trade today as speculators trimmed their positions.

At the Multi Commodity Exchange, copper for delivery in April fell by Rs 2.65, or 0.66 per cent, to Rs 397.65 per kg in a business turnover of 1,630 lots.

On similar lines, the metal for delivery in June declined by Rs 2.45, or 0.61 per cent, to Rs 401.60 per kg in 100 lots.

Market analysts said the fall in copper futures was mostly in line with a weakening trend overseas after data suggested Chinese factory production in March missed estimates, damping demand prospects in the world's biggest user of metals.

Globally, copper for delivery in three months retreated as much as 0.90 per cent to USD 6,419.75 a tonne on the London Metal Exchange, while in Shanghai, the futures contract for June fell 0.4 per cent to 45,000 yuan (USD 7,234) a tonne.