Copper prices declined by Rs 2.25 to Rs 400 per kg in futures trade today as speculators reduced their positions on the back of a weakening global trend.
At the Multi Commodity Exchange, copper for August delivery shed Rs 2.25, or 0.56%, to Rs 400 per kg, with a business turnover of 11,274 lots.
Similarly, the metal for November delivery traded lower by Rs 2.10, or 0.52%, to Rs 404.95 per kg, with an open interest of 747 lots.
Market analysts said besides a weakening trend in global markets, reducing of positions by speculators on subdued spot market demand, mainly led to a fall in copper futures prices.
Meanwhile, copper for three-month delivery fell by 0.5% to $8,861 a tonne on the London Metal Exchange.
