Copper futures extend losses, slide 0.07% on global cues

Copper prices slipped 0.07 per cent to Rs 454.55 per kg in futures trade today as speculators reduced their positions, tracking a weak trend overseas.
Subdued demand in the domestic spot market also weighed on prices.
At the Multi Commodity Exchange, copper for delivery in April month shed 30 paise, or 0.07 per cent to Rs 454.55 per kg in business turnover of 788 lots.
Likewise, the metal for delivery in June contracts were trading lower by 15 paise, or 0.03 per cent to Rs 458.10 per kg in 16 lots.
Analysts said participants reduced their holdings due to a weak trend overseas on heightened fears of a trade war that could derail global growth after US President Donald Trump said he would push ahead with his plan to impose heavy tariffs on steel and aluminium imports.

Globally, copper for delivery in three month slipped by 0.5 per cent to USD 6,971 a tonne on the London Metal Exchange.