Copper futures fall on global cues

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Copper futures prices fell by 0.75 per cent today, extending yesterday's losses, as speculators reduced their positions in line with a weak overseas trend. 

At the Multi Commodity Exchange, copper for delivery in April declined by Rs 3.15, or 0.75 per cent, to Rs 416.95 per kg, with a business volume of 5,821 lots. 

Similarly, the metal for delivery in June lost Rs 3.15, or 0.74 per cent, to Rs 421.75 per kg, with a trade volume of 283 lots. 

Market analysts said offloading by speculators, triggered by a weak trend in the global market as investors continued to weigh the impact of Japan's devastating earthquake on demand for industrial metals, mainly kept pressure on the copper futures prices here. 

Meanwhile, at the London Metal Exchange copper for three-month delivery was trading 0.52 per cent lower at USD 9,182 a tonne.

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