Copper futures prices fell by 0.57 per cent to Rs 381.40 per kg today, as speculators reduced their positions in view of monthly expiry, amid weak trend at spot markets even as the metal strengthened at the London Metal Exchange (LME).
At the Multi Commodity Exchange counter, copper for delivery in February traded Rs 2.20, or 0.57 per cent down at Rs 381.40 per kg. It ended 0.40 per cent higher at Rs 383.60 per kg in yesterday.
The metal for delivery in April also weakened by Rs 2.35, or 0.61 per cent to Rs 383.30 per kg.
Meanwhile, copper contract for three-month delivery was trading 0.27 per cent higher at USD 8,208 a tonne at the LME.
Analysts said squaring up of positions in the face of monthly expiry by speculators and a subdued demand for the metal at spot markets, put pressure on copper futures prices here.
