Copper futures fall 0.74% as speculators trim positions

Copper futures traded 0.74 per cent lower at Rs 436.95 per kg today as speculators offloaded bets amid a weak trend overseas.

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

At the Multi Commodity Exchange, copper for delivery in February shed Rs 3.25, or 0.74 per cent, to Rs 436.95 per kg in a business turnover of 1,021 lots.

Also, metal for delivery in far-month April was trading down Rs 3.25, or 0.73 per cent, at Rs 441.80 per kg in 34 lots.

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