NEW DELHI: Copper futures prices today fell 0.28 per cent to Rs 426.50 per kg, as speculators trimmed their positions amid a weak trend in the global markets.
Besides, rising stockpiles of metal monitored by the London Metal Exchange (LME) also put pressure.
At the Multi Commodity Exchange, copper for delivery in April declined by Rs 1.20, or 0.29 per cent, to Rs 426.50 per kg in business turnover of 1,454 lots.
The metal for delivery in June fell by a similar margin to Rs 432.20 per kg in a business volume of 84 lots.
Analysts said besides, rising inventories, concern that policymakers will expand efforts to cool the housing market in China, the world's biggest consumer, also put pressure on the copper prices at futures trade.
Globally, copper for delivery in three-months traded 0.50 per cent lower at $7,787.50 per tonne on the LME.
Meanwhile, stock piles of copper monitored by the LME, up 63 per cent this year, increased 0.5 per cent today to 520,500 tonnes, the highest since March, 2010. Inventories have risen for 20 straight days, the longest streak since January 2010.
