Copper futures slide 0.28 pc as traders trim position

Copper prices fell by 0.28 per cent to Rs 455.75 a kg in futures trade Tuesday as participants reduced their exposure amid muted demand at the domestic spot markets and weak global cues.

At the Multi Commodity Exchange, copper for delivery in November declined by Rs 1.30 or 0.28 per cent to Rs 455.75 per kg in a business turnover of 642 lots.

Analysts said offloading of positions by traders, tracking subdued demand at the domestic spot markets as some industrial metals fell due to low demand and weak overseas cues, mainly weighed on copper prices at futures trade.