Copper futures slip 0.32% on global cues, low demand

Copper prices drifted 0.32 per cent lower to Rs 417.70 per kg in futures trading today as speculators reduced exposure, tracking a weak trend overseas.

Besides, low demand from consuming industries at domestic spot market, too fulled the downtrend.

At the Multi Commodity Exchange, copper for delivery in August fell by Rs 1.35, or 0.32 per cent, to Rs 417.70 per kg in business turnover of 893 lots.

Similarly, the metal for delivery in November contracts was trading lower by Rs 1.30, or 0.30 per cent, to Rs 425 per kg in 18 lots.

Analysts said sentiment dampened after London copper edged lower today as the dollar index ticked higher, making metals more expensive for holders of other currencies, even as China's move to place retaliatory tariffs on USD 60 billion of US goods heightened trade tensions.

Meanwhile, copper for delivery in three month was down 0.3 per cent at USD 6,158.50 a tonne on the London Metal Exchange.