Muted demand drag down copper futures

NEW DELHI, July 2: Copper futures slipped by 0.52 per cent to Rs 455.70 per kg in futures trade today as speculators cut down their positions, taking negative cues from spot market on slump in demand.
At the Multi Commodity Exchange, copper for delivery in August  fell by Rs 2.40, or 0.52 per cent to Rs 455.70 per kg in a business turnover of 111 lots.
In a similar fashion, the metal for delivery in August contracts was trading lower by Rs 2.15, or 0.48 per cent to Rs 450.15 per kg in 2,921 lots.
Analysts said offloading of positions by traders owing to slackened demand from consuming industries in the physical markets, mainly led to decline in copper prices at futures trade. (PTI)


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