Copper weakens in futures trade on global cues

New Delhi: Copper futures prices on Friday fell 0.39 per cent to Rs 429.85 per kg, as speculators trimmed their positions amid a weak trend in the global markets on disappointing Chinese manufacturing data.

At the Multi Commodity Exchange, copper for delivery in April declined by Rs 1.70, or 0.39 per cent, to Rs 429.85 per kg in business turnover of 2,795 lots.

Similarly, the metal for delivery in June fell by Rs 1.65, or 0.38 per cent, to Rs 434.70 per kg in 147 lots.

Analysts attributed the decline to a subdued trend at the London Metal Exchange (LME) as Chinese manufacturing index retreated for the second month, signalling the economic recovery in the largest user may be losing steam.

Meanwhile, copper for delivery in three-months traded 0.20 per cent lower at $ 7,803.25 per tonne on the LME, while while the June contract on the Shanghai Futures Exchange declined 1.1 per cent to 57,020 yuan ($ 9,163) a tonne.