Copper futures fall on global cues

New Delhi, Mar 11 (PTI) Copper prices fell by Rs 4.85 to Rs 421.60 per kg in futures trade today, as speculators reduced their positions in tandem with a weakening global trend.

At the Multi Commodity Exchange, copper for delivery in June fell by Rs 4.85, or 1.14 per cent, to Rs 421.60 per kg, with a business turnover of four lots.

Similarly, copper futures prices for delivery in April declined by Rs 4.75, or 1.13 per cent, to Rs 417.35 per kg, with an open interest of 15 lots.

Traders said fresh selling by speculators in tandem with a weakening trend in the global markets mainly led to the fall in copper futures prices.

Meanwhile, copper dropped 0.7 per cent to USD 9,130 a metric tonne on the London Metal Exchange.

(Source: http://in.news.yahoo.com/copper-futures-fall-global-cues-20110311-011100-675.html)