Copper futures slide 0.51% pc on low demand

Amid muted demand at the domestic spot markets, copper prices fell by 0.51 per cent in futures trading today as participants cut down positions even as metal strengthened at the London Metal Exchanger (LME).
At the Multi Commodity Exchange, copper for delivery in February fell by Rs 2.35, or 0.51 per cent to Rs 462.65 per kg in business turnover of 1,181 lots.
Similarly, the metal for delivery in far-month April declined by Rs 2.25, or 0.48 per cent to Rs 466.30 per kg in 14 lots.
Marketmen attributed the fall in copper prices at futures trade to a weak trend at the domestic spot markets due to fall in demand but a firm trend at the LME, limited the fall.

Meanwhile, copper for delivery in three months at the LME climbed 0.3 per cent, to near 4-year high of USD 7,267.50 per tonne.