Copper futures slide 1.33% on subdued global cues; low demand

Copper prices fell by 1.33 per cent to Rs 404.20 per kg in futures trading today as participants indulged in reducing positions, tracking a weak trend in base metals overseas.
Besides, subdued demand from consuming industries in the spot market weighed on prices.
At the Multi Commodity Exchange, copper for delivery in far-month April declined by Rs 5.45, or 1.33 per cent, to Rs 404.20 per kg, in a business turnover of 30 lots.
On similar lines, the metal for delivery in February traded lower by Rs 5.40, or 1.33 per cent, to Rs 401.55 per kg in 1,151 lots.

Analysts said offloading of positions by traders on the back of a weak trend as most industrial metals fell with the stronger dollar and as China winds down before a week-long public holiday to mark the start of the year of Rooster in the Chinese lunar calender, mainly weighed on copper futures.
China is the world's biggest consumer of industrial metals.