Muted demand drags down copper futures 0.27 pc

Copper prices drifted lower by 0.27 per cent to Rs 393.40 per kg in futures trade today as speculators reduced their positions, driven by sluggish demand in the spot market.
At the Multi Commodity Exchange, copper for delivery in February declined by Rs 1.05, or 0.27 per cent, to Rs 393.40 per kg in a business turnover of 13,791 lots.
Likewise, the metal for delivery in April traded lower by 95 paise, or 0.24 per cent to Rs 397.70 per kg in 355 lots.
Analysts attributed the fall in copper futures to weak cues from domestic spot market owing to slackened demand from consuming industries.