Copper futures slide 0.06% on overseas cues, low demand

Copper prices were down 0.06 per cent to Rs 437.20 per kg in futures trade Monday as speculators cut positions, taking negative cues from Asian markets amid easing demand from domestic consuming industries.

At the Multi Commodity Exchange, copper for delivery in April fell by 25 paise, or 0.06 per cent, to Rs 437.20 per kg in a business turnover of 1,830 lots.

Analysts said, offloading of positions by participants amid a weak trend in Asian trade as investors worried about the prospect of a recession in the US, the world's biggest economy and muted demand from consuming industries in the physical market, led to a decline in the copper prices at futures trade.

In Asian trade, at the Shanghai Futures Exchange, the most-traded May copper fell 1.6 per cent, to 48,300 yuan (USD 7,191.57) per tonne.

At the London Metal Exchange (LME), three-month copper traded flat at USD 6,313 per tonne.