Copper futures slide 0.39% on muted demand

Copper prices fell by 0.39 per cent to Rs 370.30 per kg in futures trade today as participants indulged in reducing positions, tracking a weak trend in base metals at the domestic spot markets due to subdued demand.
At the Multi Commodity Exchange, copper for delivery in far-month August declined by Rs 1.45, or 0.39 per cent to Rs 370.30 per kg in a business turnover of 16 lots.
On similar lines, the metal for delivery in June traded lower by Re 1 or 0.27 per cent to Rs 366.60 per kg in 148 lots.
Analysts said offloading of positions by traders, triggered by a weak trend at the domestic spot markets due to low demand from consuming industries, mainly weighed copper prices at futures trade.