India: Copper futures decline on global cues

New Delhi, May 16 (PTI) Copper prices fell by Rs 3.50 to Rs 403.20 per kg in futures trade today as speculators off-loaded their positions on the back of a weak global trend.

Also, sluggish demand for the metal at domestic markets kept pressure on the copper futures here.

At the Multi Commodity Exchange, copper for delivery in August fell by Rs 3.50, or 0.86 per cent to Rs 403.20 per kg, with a business turnover of two lots.

Similarly, the metal for delivery in June lost Rs 3.40, or 0.85 per cent to Rs 398.20 per kg, with a business volume of two lots.

Market analysts said besides a weakening global trend, fall in demand in the spot market pulled down the copper futures prices.

Meanwhile, copper for three-month delivery fell by 0.8 per cent to USD 8,720 a metric tonne on theLondon Metal Exchange.

(Source: http://in.news.yahoo.com/copper-futures-decline-global-cues-073100676.html)