Amid a weak trend overseas and sluggish spot demand, copper prices fell by 1.19% in futures trade today as speculators off-loaded their positions.
At the Multi Commodity Exchange, copper for delivery in June fell by Rs 4.90, or 1.19% to Rs 406.60 per kg, with a business turnover of 21,399 lots. It had ended 0.50% lower at Rs 411.50 per kg in the previous session.
The metal for delivery in August lost Rs 4.75, or 1.14% to Rs 412.05 per kg, with a business volume of 1,733 lots.
Market analysts said a weakening trend at the London Metal Exchange, where metal fell by one% as the recovery in dollar reduced appeal for commodities, mainly kept pressure on the copper futures here.
In addition, sluggish demand at the domestic spot markets also weighed on the prices, they added.
