Copper futures traded 0.59 per cent lower at Rs 309.45 today as speculators cut down their positions at prevailing levels even as metal strengthened overseas.
In futures trading at the Multi Commodity Exchange, copper for delivery in June fell Rs 1.85, or 0.59 per cent, at Rs 309.45 per kg, in a business turnover of 2,400 lots.
The metal for delivery in far-month August fell by a similar margin to trade at Rs 314 per kg in 21 lots.
Analysts attributed the fall in copper futures to profit-booking by speculators who trimmed their positions at existing levels but metal's strength at the London Metal Exchange (LME), capped the losses.
Meanwhile, copper was up 0.3 per cent to USD 4,657 per tonne at the London Metal Exchange (LME).
