Copper prices shed 0.38 per cent to Rs 467.25 per kg in futures trade today as speculators cut down their positions amid easing demand in the spot market despite a firm trend overseas.
At the Multi Commodity Exchange, copper for delivery in June declined by Rs 1.80, or 0.38 per cent, to Rs 467.25 per kg in business turnover of 1,655 lots.
Similarly, the metal for delivery in August was trading lower by Rs 1.75, or 0.37 per cent, to Rs 472.35 per kg in 21 lots.
Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market led to the decline in copper prices in futures trade.
They, however, said a firm trend overseas after the dollar took a hit following US President Donald Trump's decision to cancel a summit with North Korean leader Kim Jong Un, restricted the fall.
Globally, copper for delivery in three-month was up 0.2 per cent at USD 6,894 tonne on the London Metal Exchange.
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