Copper prices today fell by over 1% to Rs 417.15 per kg after speculators reduced their positions, taking weak cues from global markets. The sluggish domestic demand at spot markets also put pressure on the metal's prices. At the MCX, copper for delivery in June lost Rs 4.35, or 1.03%, to Rs 417.15 per kg, with a trading volume of 15,363 lots. The metal for delivery in August also fell by Rs 4.05, or 0.95%, to trade at Rs 422.10 per kg, with a trading volume of 2,350 lots. Analysts said the fall in copper futures prices was mostly due to a weakening trend at the LME and subdued demand at domestic spot markets. Meanwhile, copper for three-month delivery dropped as much as 1.5% to $7,430 a tonne at the London Metal Exchange.

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