Copper futures slip on global cues

Copper prices declined by Rs 2.80 to Rs 443.80 per kg in futures trading today, as speculators reduced their positions, driven by a weakening trend in global markets.

At the Multi Commodity Exchange counter, copper for February declined by Rs 2.80, or 0.63 per cent, to Rs 443.80 per kg, with a business turnover of five lots.

Similarly, the metal for delivery in April traded lower by Rs 2.70, or 0.60 per cent to Rs 446.35 per kg, with a business volume of single lot. 

Marketmen said offloading of positions by speculators, amid weakening global trend after China, the world's largest consumer of metal, stepped up measures to cool its economy and the dollar strengthened, weighed on the copper futures prices here.

Meanwhile, copper for three-month delivery declined 0.4 per cent to $9,613.25 a metric tonne on the London Metal Exchange.