Copper futures shed 1.22% on weak global cues, muted demand

Amid weak trends overseas and muted demand at domestic spot markets, copper futures fell 1.22 per cent to Rs 453.10 per kg Thursday as speculators trimmed their positions.

At Multi Commodity Exchange, copper for delivery in November declined by Rs 5.60, or 1.22 per cent, to Rs 453.10 per kg in a business turnover of 1,160 lots.

Analysts attributed the fall to off-loading of positions by speculators, tracking a weak trend in the base metals pack overseas and subdued spot demand.