Copper prices fell by Rs 7.75 to Rs 434.40 per kg in futures trade today as speculators offloaded their positions in line with a weakening trend in global markets.
At the Multi Commodity Exchange, copper for delivery in August fell by Rs 7.75, or 1.75 per cent, to Rs 434.40, with a business turnover of just one lot.
Likewise, the metal for delivery in June moved down by Rs 6.80, or 1.55 per cent, to Rs 431.50 per kg, with a business turnover of six lots.
Copper prices for delivery in April contract shed Rs 6.80, or 1.57 per cent, to Rs 427.05 per kg, with an open interest of 11 lots.
Market analysts attributed the fall in copper futures prices to offloading by speculators, triggered by weak global trend on concern that conflict in Libya and Middle East may sustain an oil rally, curbing the economic recovery and hurting demand.
Sluggish demand in the spot market further fuelled the downtrend in copper prices, they added.
Meanwhile, copper for three-month-delivery dropped 0.9 per cent to $9,415.25 a metric tonne on the London Metal Exchange.