Copper futures fall 0.65% on global cues

NEW DELHI: Copper prices declined by 0.65 per cent to Rs 321.95 a kg in futures trade today as participants were indulged in trimming their positions, tracking a weak trend in select base metals overseas.

Besides, muted spot demand from consuming industries fuelled the downtrend.

At the Multi Commodity Exchange, copper for delivery in far-month November shed Rs 2.10 or 0.65 per cent to Rs 321.95 per kg in a business turnover of 1,464 lots.

Similarly, the metal for delivery in far-month February contracts traded lower by Rs 2.05 or 0.62 per cent to Rs 328.05 per kg in 17 lots.

Analysts attributed the fall in copper futures to weak trend in global markets where it dropped from a four-week high as Anglo American restarted operations after a strike at its Los Bronces mine in central Chile, bolstering supply from the world's largest producer and weak demand at the domestic spot markets.