Copper futures slide 1.47 pc as traders trim position

Copper prices fell by 1.47 per cent to Rs 330.70 a kg in futures trade today as participants indulged in reducing their exposure ahead of monthly expiry amid muted demand at the domestic spot markets.
However, strength in the base metals pack at the London Metal EXchange (LME), capped the fall.
At the Multi Commodity Exchange, copper for delivery in February next year declined by Rs 5.95 or 1.47 per cent to Rs 399.90 per kg in a business turnover of 205 lots.
On similar lines, the metal for delivery this month was trading lower by Rs 5.75 or 1.44 per cent to Rs 394.90 per kg in 702 lots.

Analysts said offloading of positions by traders ahead of November month expiry amid a weak trend at the domestic spot markets as some industrial metals fell due to low demand, mainly influenced copper prices at futures trade.