Copper futures decline 0.23% on low demand

Amid muted demand in the domestic spot markets, copper prices fell 0.23 per cent to Rs 386.90 per kg in futures trade today as speculators cut down their positions.
However, a firm trend in the base metals pack at the London Metal Exchange (LME), capped the losses.
At the Multi Commodity Exchange, copper for delivery in far-month June eased by 90 paise, or 0.23 per cent, to Rs 386.90 per kg, in a business turnover of six lots.
On similar lines, the metal for delivery in April was trading down by 70 paise, or 0.18 per cent, to Rs 383.35 per kg in 511 lots.

Marketmen attributed the fall in copper prices at futures trade to a low demand at the domestic markets from consuming industries but metal's strength at the LME, restricted the losses.
Globally, copper used in pipes and wiring retreated 0.6 per cent to end at USD 5,907 per tonne for delivery in three months at the LME in yesterday's trade.