Copper prices down 0.07% on global cues

NEW DELHI: Copper futures traded a shade lower at Rs 434.65 per kg as speculators trimmed positions amidst a weak trend in global markets.

At the Multi Commodity Exchange, copper for delivery in August softened by 30 paise, or 0.07 per cent, to Rs 434.65 per kg in a business turnover of 730 lots.

The metal for delivery in far-month November fell by a similar margin to trade at Rs 441.25 per kg in a business volume of four lots.

Analysts said apart from profit-booking by speculators, the metal's weakness overseas weighed on copper prices at futures trade here.

Globally, copper for delivery in three-months traded little changed at USD 7,121.75 per tonne at the London Metal Exchange, while at Shanghai futures Exchange, it slid 0.20 per cent to 50,560 yuan (USD 8,141) per tonne.