Copper futures down 1.29% on muted demand

Copper prices fell further by 1.29 per cent to Rs 394.90 per kg in futures trading today as participants engaged in trimming their positions, tracking a weak trend at spot market due to tepid demand.
At the Multi Commodity Exchange, copper for delivery in February month fell by Rs 5.15, or 1.29 per cent, to Rs 394.90 per kg in business turnover of 2,265 lots.
Likewise, the metal for delivery in far-month April shed Rs 4.80, or 1.19 per cent, to Rs 397.90 per kg in 10 lots.
Analysts attributed the slide in copper futures to offloading of positions by traders owing to slackened demand from consuming industries in the spot market.