Copper futures down 0.49% on muted demand

Copper prices drifted lower by 0.49 per cent to Rs 368.75 per kg in futures trade today as participants reduced their exposures,tracking a weak trend at spot market on sluggish demand.
At the Multi Commodity Exchange, copper for delivery in far-month August fell by Rs 1.80, or 0.49 per cent to Rs 368.75 per kg in business turnover of 19 lots.
Likewise, the metal for delivery in June contracts shed Rs 1.70, or 0.46 per cent to Rs 365.35 per kg in 793 lots.
Analysts attributed the fall in copper futures to offloading of positions by traders owing to slackened demand from consuming industries in the physical market.