Muted demand drags down copper futures by 0.56%

Copper prices drifted lower by 0.56 per cent to Rs 454.20 per kg in futures trading today as speculators reduced exposure, taking negative cues from the spot market on tepid demand.
At the Multi Commodity Exchange, copper for delivery in February fell by Rs 2.55, or 0.56 per cent to Rs 454.20 per kg in a business turnover of 1,225 lots.
Similarly, the metal for delivery in April contracts was trading lower by Rs 2.50, or 0.54 per cent to Rs 457.40 per kg in 6 lots.
Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market, mainly weighed on copper prices in futures trade.