Copper futures fall 0.35% as speculators trim positions

Copper futures traded 0.35 per cent lower at Rs 397.10 per kg today as speculators offloaded bets.

Furthermore, subdued demand at domestic spot market pushed down metal prices.

At the Multi Commodity Exchange, copper for delivery in April shed Rs 1.40, or 0.35 per cent, to Rs 397.10 per kg, in a business turnover of 831 lots.

Also, metal for delivery in far-month June lost similar ground to trade at Rs 400.70 per kg in 56 lots.

Analysts attributed the fall to offloading of positions by participants amid muted demand at the domestic spot markets.

They said, however, gains in metal at the London Metal Exchange (LME), capped the losses.
 

Meanwhile, copper gained 0.1 per cent, after two days of losses at the LME.