Copper futures fall 0.48% as speculators trim positions

Copper futures traded 0.48 per cent lower at Rs 384.30 per kg today as speculators offloaded their bets.

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

At the Multi Commodity Exchange, copper for delivery in April shed Rs 1.85, or 0.48 per cent, to Rs 384.30 per kg, in a business turnover of 328 lots.

Also, metal for delivery in far-month June was trading down by Rs 1.85, or 0.47 per cent, at Rs 388.65 per kg in 6 lots.

Analysts attributed the fall to offloading of positions by participants amidst muted demand at the domestic spot markets and weakness in select base metals at the London Metal Exchange (LME).