Copper futures slide 0.45%

by - 6:26 pm

Copper futures fell during afternoon trade in the domestic market on Thursday as investors and speculators offloaded their positions in the industrial metal despite rally in global crude oil prices after OPEC ministers forged a deal to cut oil production. 

Oil prices rallied after major producers agreed to trim oil production for the first time in 8 years. At the MCX, copper futures for February 2016 contract is trading at Rs 398.15 per kg, down by 0.45 per cent, after opening at Rs 400.25, against a previous close of Rs 399.95. It touched the intra-day low of Rs 397.70.

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