Copper futures drop 2% as participants trim positions

NEW DELHI: Copper futures on Tuesday slipped 2.29 per cent to Rs 728.75 per kg, as participants cut their positions amid muted demand in the domestic market.

On the Multi Commodity Exchange, copper contracts for the June delivery eased by Rs 17.1, or 2.29 per cent, to Rs 728.75 per kg in a business turnover of 4,885 lots.

Analysts said trimming of positions by speculators due to muted demand in the spot market mainly led to the fall in copper prices here.