Copper prices drifted lower by 1.26 per cent to Rs 427.95 per kg in futures trade today as speculators reduced positions, amid sluggish demand in the spot market.
At the Multi Commodity Exchange, copper for delivery in April fell by Rs 5.45, or 1.26 per cent, to Rs 427.95 per kg in business turnover of 1,981 lots.
Similarly, the metal for delivery in June contracts was trading lower by Rs 5.10, or 1.16 per cent, to Rs 433.15 per kg in 48 lots.
Analysts said offloading of positions by participants owing to slackened demand in the physical markets led to the decline in copper futures.
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