Copper falls by 0.4% as speculators trim positions

Subdued demand at domestic spot market also pushed down metal prices

Copper futures traded 0.38% lower at Rs 337.85 per kg today as speculators offloaded bets.

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

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At the Multi Commodity Exchange, copper for delivery in far-month June shed Rs 1.30, or 0.38%, to Rs 337.85 per kg, in a business turnover of 81 lots.

Also, metal for delivery in April was trading down Rs 1.25, or 0.37%, at Rs 333.25 per kg in 1,251 lots.

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

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

Meanwhile, copper gained 0.7%, to 5,031 per tonne at the LME.