Copper futures slide 0.51% on global cues

Copper prices drifted lower by 0.51 per cent to Rs 311.05 per kg in futures trading today as traders indulged in trimming their positions, tracking a weak trend in base metals overseas.
Besides, muted demand from consuming industries in the spot market fuelled the downtrend.
At the Multi Commodity Exchange, copper for delivery in June fell by Rs 1.60, or 0.51 per cent, to Rs 311.05 per kg, in a business turnover of 2,117 lots.
Similarly, the metal for delivery in far-month August eased by Rs 1.45, or 0.46 per cent, to Rs 315.80 per kg in 214 lots.
Analysts attributed the fall in copper prices at futures trade to a weak trend in global markets.

Meanwhile, copper for delivery in three months lost 0.7 per cent on the London Metal Exchange.