Copper futures melt on global cues

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Copper futures prices fell by 1.62 per cent to Rs 420.85 per kg today, as speculators indulged in off-loading their positions, taking weak cues from the global market . 

At the Multi Commodity Exchange , copper for delivery in June declined by Rs 6.95, or 1.62 per cent, to Rs 420.85 per kg, with a business volume of 1,091 lots. 

Similarly, the metal for delivery in April lost Rs 7.60, or 1.79 per cent, to Rs 416 per kg, with a trade volume of 13,650 lots. 

Market analysts said offloading by speculators, triggered by a weak global trend, as the unfolding disaster in Japan continued to rattle markets, kept pressure on the copper prices at futures trade here.

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