Copper futures slide 0.17% as participants cut bets

Copper prices drifted lower by 0.17 per cent to Rs 422.85 per kg in futures trade today as speculators cut down their positions, tracking a weak demand at the spot market.
At Multi Commodity Exchange, copper for delivery in November fell by 70 paise, or 0.17 per cent, to Rs 422.85 per kg in a business turnover of 1,116 lots.
Similarly, the metal for delivery in far-month February declined by 65 paise, or 0.15 per cent, to Rs 427.30 per kg in 14 lots.
Marketmen attributed the fall at futures trade to offloading of positions by participants due to muted demand at the domestic spot market.