Copper futures slid 0.26% on global cues, weak demand

Copper prices moved down by 0.26 per cent to Rs 324.65 per kg in futures trade today as speculators trimmed their exposure amid a weak trend overseas and low demand at spot markets.
Copper for delivery in August shed 85 paise, or 0.26 per cent, to Rs 324.65 per kg in a business turnover of 1,838 lots at the Multi Commodity Exchange.
Likewise, the metal for delivery in far-month November was trading lower by 70 paise, or 0.21 per cent, to Rs 331.20 per kg in 47 lots.
Analysts said attributed fall in copper prices at futures trade to a weak trend in base metals at the London Metal Exchange (LME) amid mounting signs that global demand is slowing.

Meanwhile, copper futures for delivery in September declined 0.5 per cent to settle at USD 2.19 a pound on the Comex in New York yesterday.
Besides, low demand from domestic industries had a negative impact, they said.