Copper futures fall 0.42% on weak global cues

NEW DELHI: Copper prices fell 0.42 per cent to Rs 320.60 per kg in futures trade today as speculators offloaded their positions after the metal dropped for the fifth day at the London Metal Exchange ( LME).

At the Multi Commodity Exchange, copper for delivery in April contracts was trading lower by Rs 1.35, or 0.42 per cent, to Rs 320.60 per kg in business turnover of 1,093 lots.

Similarly, the metal for delivery in far-month June traded lower by Rs 1.20, or 0.37 per cent, to Rs 325.30 per kg in 20 lots.

Analysts attributed the fall in copper futures to a weak trend in metal at the LME amid concerns over China's slowing demand growth.

Meanwhile, copper for delivery in three months rose 0.9 per cent to USD 4,829.50 per tonne at the LME.