NEW DELHI, May 25: Copper futures traded a shade lower at Rs 396.25 today on speculators reducing their positions amid weak global cues.
At Multi Commodity Exchange, copper for delivery in June fell 25 paise, at Rs 396.25 per kg, in a business turnover of 639 lots.
Similarly, the metal for delivery in June was down just 5 paise at Rs 401.25 per kg in 20 lots.
Analysts attributed the fall in copper futures to weak cues from Asian region as Goldman Sachs said investors may profit from selling at current prices as its demand will fall in coming 12 months on weak commodity demand growth in China, lower oil prices and a stronger dollar.
Meanwhile, copper for delivery in July on the Shanghai Futures Exchange lost 1 per cent to 44,680 (USD 7,204) per tonne.
The London Metal Exchange is closed for a holiday in the UK. (PTI)
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