ET:Copper futures slide by 0.13 pc on subdued demand, global cues
NEW DELHI: Copper prices declined by 0.13 per cent to Rs 468.70 per kg in futures trade today as speculators trimmed positions on the back of subdued demand in the spot market amid a weak global trend.
At the Multi Commodity Exchange, copper for delivery in far-month February traded lower by 60 paise, or 0.13 per cent, to Rs 468.70 per kg in business turnover of 163 lots.
Similarly, the metal for delivery in November weakened by 45 paise, or 0.10 per cent, to Rs 458.55 per kg in 4559 lots.
Analysts attributed the fall in copper futures to a weak global trend on concern that the US government's partial shutdown will slow economic growth and curb demand for industrial metals.
Subdued demand in the spot market also influenced copper prices at futures trade, they said.
Meanwhile, copper for delivery in three months fell 0.3 per cent to USD 7,260 a tonne on the London Metal Exchange.
