Base metal futures declined in local markets today tracking the choppy trade in international markets and firm rupee against the dollar. Eurozone uncertainty led by Greece weighed on most base metals today, but a major decline in the previous week, kept prices from declining much, Priyanka Jhaveri, analyst with Kotak Commodity Services, said. The downside in international base metals was limited today held up by a technical pull back, she said. MCX June copper prices fell by Rs 4.30 to Rs 434.30 per kg in futures trade today in business turnover of 65,156 lots. The August contract declined by Rs 4.20, or 0.95% to Rs 438.30 per kg in 4834 lots. Market analysts attributed the fall in copper futures to a weakening global trend. The rupee, appreciated today after hitting life-time lows Wednesday, which kept local base metal prices down, led by copper, said analysts. The three-month copper contract on the London Metal Exchange shed 0.1% to $8,049 a tonne on the London Metal Exchange. The international contract may find support at $7,950 per tonne, and face resistance at $8,100 later today. The copper contract on MCX may find support at Rs 430 and face resistance at Rs 438 later today.

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