Copper futures slide 0.35% on subdued spot demand

Copper prices moved down by 0.35 per cent to Rs 410.80 per kg in futures trade today as speculators indulged in reducing their positions amid low demand at the spot markets.

Besides, profit-booking kept pressure on metal prices.

At the Multi Commodity Exchange, copper for delivery in August fell by Rs 1.45, or 0.35 per cent, to Rs 410.80 per kg, in a business turnover of 777 lots.

Likewise, the metal for delivery in far-month November traded lower by Rs 1.35, or 0.32 per cent, to Rs 417.10 per kg in eight lots.

Analysts attributed the fall in copper prices at futures trade to a weak demand at the domestic spot markets amid profit-booking at higher levels, led to the decline in copper prices in futures trade.

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