Copper futures traded 0.67 per cent lower at Rs 407.85 today as speculators cut down their positions at prevailing levels even as metal strengthened overseas.
In futures trading at the Multi Commodity Exchange, copper for delivery in far-month April 2017 contracts fell Rs 2.75, or 0.67 per cent, at Rs 407.85 per kg, in a business turnover of 27 lots.
The metal for delivery in February fell by Rs 2.65, or 0.65 per cent, to at Rs 404.05 per kg in 1,690 lots.
Analysts attributed the fall in copper futures to profit-booking by speculators who trimmed their positions at existing levels but metal's strength at the London Metal Exchange (LME), capped the losses.
Meanwhile, copper for three-month delivery rallied to the highest in 18 months at the London Metal Exchange (LME).
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