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Copper prices moved down by 0.39% to Rs 412.15 per kg in futures trade today as speculators reduced their exposures amid a weak trend overseas and low demand in the spot market.
Copper for delivery in June shed Rs 1.60, or 0.39%, to Rs 412.15 per kg in a business turnover of 228 lots at the Multi Commodity Exchange.
Likewise, the metal for delivery in far-month August traded lower by Rs 1.55, or 0.37%, to Rs 417.05 per kg in 24 lots.
Analysts said the fall in copper prices at futures trade was largely in tune with a weak trend in metal at the London Metal Exchange (LME) where it retreated from four-month high after a report from HSBC and Markit showed the final April reading for a China purchasing managers' index was 48.9, the lowest in a year and missing the forecast.
China is the world's biggest consumers of base metals.
Besides, low demand from domestic industries too had negative impact, they said.
Meanwhile, copper for delivery in three months retreated 0.7% to $6,355 a metric tonne at the LME, while at Shanghai, metal for delivery in July lost 0.2% to 45,610 yuan ($7,347) a tonne.
