Copper futures prices today declined by 0.24% to Rs 422.90 per kg after traders reduced their positions, taking weak cues from global markets as inventories advanced to almost two-month high.
Sluggish domestic demand at spot markets also put pressure on the metal's prices.
At the Multi Commodity Exchange, copper for delivery in June lost one rupee, or 0.24%, to Rs 422.90 per kg, with a trading volume of 1,414 lots.
The August contract shed 95 paise, or 0.23%, to trade at Rs 427.45 per kg, with a trading volume of 215 lots.
Analysts said the fall in copper futures prices was due to a weakening trend in overseas markets as inventories in London Metal Exchange (LME) warehouses advanced to the highest level in almost two months, and on speculation that stockpiles in Shanghai may snap 10 weeks of losses.
Meanwhile, three-month copper dropped as much as 0.6%, to $7,567 a tonne at the LME.