Copper prices fell by Rs 1.60, or 0.51 per cent, to Rs 312.70 per kg in futures trade today, as traders reduced their positions, tracking a weak trend overseas amid stronger rupee against dollar.
Subdued demand for the metal at the physical market also put some pressure on the copper prices in futures trade here. At the Multi Commodity Exchange, the metal for delivery in June contract declined by Rs 1.60, or 0.51 per cent, to Rs 312.70 per kg, with a turnover of of 5,308 lots.
It ended 0.03 per cent down, at Rs 314.30 per kg in the previous session. Similarly, the copper for delivery in August contract fell by Rs 1.25, or 0.39 per cent, to Rs 315.70 per kg, with a business turnover of 1,520 lots.
Analysts said fresh selling by traders in tandem with a weakening trend at the London Metal Exchange pulled down copper prices at futures trade. Besides, stronger rupee, which makes the dollar-quoted metal cheaper also put some pressure, they added.
Meanwhile, copper for three-month fell 1.24 per cent to $6,786 a metric tonne on the London Metal Exchange.
