Copper futures slip 0.35% on muted demand

Copper prices drifted lower by 0.35 per cent to Rs 465.75 per kg in futures trade today as participants reduced their exposures, tracking a weak trend at spot market on sluggish demand.

At the Multi Commodity Exchange, copper for delivery in August fell by Rs 1.65, or 0.35 per cent, to Rs 465.75 per kg in business turnover of 82 lots.

Likewise, the metal for delivery in June contracts shed Rs 1.60, or 0.35 per cent, to Rs 460.20 per kg in 865 lots.

Analysts attributed the fall in copper futures to offloading of positions by traders owing to slackened demand from consuming industries in the physical market.