Falling for the second straight day, copper prices drifted further by 1.49 per cent to Rs 363.25 per kg in futures trading today as participants engaged in trimming positions, tracking a weak trend in base metals overseas.
In addition, easing demand from consuming industries at domestic spot market fuelled the downtrend.
At the Multi Commodity Exchange, copper for delivery in June fell by Rs 5.50, or 1.49 per cent to Rs 363.25 per kg in a business turnover of 17,885 lots.
Similarly, the metal for delivery in August declined Rs 5.30, or 1.42 per cent to Rs 367.05 per kg in 404 lots.
Analysts said offloading of positions by participants on the back of a weak trend overseas mainly kept pressure on copper prices at futures trade.
Globally, copper for delivery in three-months dropped 1.3 per cent on the London Metal Exchange.
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