Copper declines in futures trade on mixed global cues

New Delhi, Jun 4 (PTI) Copper prices edged lower to Rs 1,367.45 per kilogram in futures trade on Thursday amid muted domestic demand and a mixed trend in the overseas markets.

On the Multi Commodity Exchange, the red metal for June delivery fell by 45 paise to Rs 1,367.45 per kilogram in a business turnover of 17,464 lots.

The July contract also weakened by 20 paise to Rs 1,384.75 per kg in 2,961 lots.


Market analysts attributed the fall to trimming of positions by traders amid mixed signals from global markets.

In the overseas markets, copper futures on the London Metal Exchange (LME) rose marginally to USD 13,814.85 per tonne.

However, Comex copper for July contract fell 0.32 per cent to USD 6.46 per pound, limiting gains in the domestic markets.

According to analysts, market participants are assessing the outlook for industrial demand and economic activity in key consuming nations, which could influence the near-term direction of base metal prices.