Copper futures slide 0.58% as speculators trim positions

Copper prices moved down by 0.59 per cent to Rs 312.15 per kg in futures trade in the evening session today as speculators trimmed their bets amid absence of global cues.
The exchange remained closed for the morning session on account of 'Id-e-Milad'.
Copper for delivery in far-month February next year shed Rs 1.15, or 0.59 per cent, to Rs 312.15 per kg, in a business turnover of 1,571 lots at the Multi Commodity Exchange.
Likewise, the metal for delivery in April traded lower by Rs 1.75, or 0.55 per cent, to Rs 316.70 per kg in 38 lots.
Analysts said offloading of positions by speculators mainly led to the fall in copper futures here.