Copper futures slide 0.25 pc as traders trim position

Copper prices fell by 0.25 per cent to Rs 444.70 a kg in futures trade today as participants indulged in reducing 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 1.10 or 0.25 per cent to Rs 444.70 per kg in a business turnover of 424 lots.

Globally, at the London Metal Exchange (LME) copper ended 2.2 per cent down at USD 6,830 per tonne on Friday after the US dollar hit three-month high, making metals more expensive for holders of other currencies.

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.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)