Copper futures shed 0.45% as participants trim position

Copper futures fell 0.45 per cent to Rs 337.40 per kg today as speculators trimmed positions amid a weak trend in global markets.

Besides, muted demand from consuming industries at the spot market, too weighed on prices.

At the Multi Commodity Exchange, copper for delivery in far-month April 2017 declined by Rs 1.70, or 0.45 per cent, to Rs 377.40 per kg, in a business turnover of nine lots.

The metal for delivery in February fell Rs 1.45, or 0.39 per cent, to Rs 373.85 per kg, in a business volume of 623 lots.

Analysts said a weakening trend in select base metals in global market amid low demand at the spot markets, mainly weighed on copper prices in futures trade.