Copper prices declined by 0.35% to Rs 415 per kg in futures trade today as speculators reduced their positions amid a weakening Asian trend.
At the Multi Commodity Exchange, copper for delivery in August shed Rs 1.45, or 0.35%, to Rs 415 per kg, with a business turnover of 5,368 lots.
Similarly, the metal for delivery in November fell by Rs 1.30, or 0.31%, to Rs 420.20 per kg, with an open interest for 1,679 lots.
Market analysts said a weak trend in metals in Shanghai on concerns that moves to curb credit growth and tame inflation by China— the world's biggest consumer— may reduce demand for raw materials mainly put pressure on copper futures prices here.
Meanwhile, copper for November delivery dropped by 0.60% to 67,060 yuan ($10,505) a tonne on the Shanghai Futures Exchange.
