Copper futures remain weak, shed 1.21% on muted demand

copper prices fell further by 1.21 per cent to Rs 454.90 per kg in futures trade today as speculators reduced positions, driven by easing demand in the spot market.
At the Multi Commodity Exchange, copper for delivery in February declined by Rs 5.55, or 1.21 per cent, to Rs 454.90 per kg in business turnover of 2,824 lots.
Similarly, the metal for delivery in far-month April contracts was trading lower by Rs 5.50, or 1.18 per cent, to Rs 459.55 per kg in 568 lots.
Analysts said offloading of positions by participants owing to slackened demand in the physical market kept copper futures lower.