Copper futures fall 0.36% as speculators trim positions

Copper futures traded 0.36 per cent lower at Rs 371.90 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 current month shed Rs 1.35, or 0.36 per cent to Rs 371.90 per kg, in a business turnover of 406 lots.

Also, metal for delivery in far-month June was trading down Rs 1.10, or 0.29 per cent, at Rs 376.30 per kg in five lots.

Analysts attributed the fall to offloading of positions by participants amid a weak trend at the London Metal Exchange (LME) and muted demand at the domestic spot markets.
 

Meanwhile, copper ended 0.3 per cent down, at 5,765 per tonne at the LME in yesterday's trade.