Copper futures shed 0.34% as global trend weakens

New Delhi: Copper futures fell 0.34 per cent to Rs 340.25 per kg today as speculators trimmed positions amid a weak trend in global markets. At Multi Commodity Exchange, copper for delivery in November declined Rs 1.20, or 0.34 per cent, to Rs 340.25 per kg, in a business turnover of 1,374 lots. The metal for delivery in far-month February next year was trading at Rs 1.15, or 0.33 per cent down, at Rs 346.50, in a business volume of 25 lots. Analysts said a weakening trend in base metals at the London Metal Exchange (LME) as the US Federal Reserve signaled it may raise interest rates as early as December, strengthening the dollar, eroding demand for commodities, mainly weighed on copper futures here. Globally, copper for delivery in three months slid as much as 0.6 per cent to USD 5,175.50 per tonne at LME.