Copper prices fell by 0.38% to Rs 458.50 per kg in futures trade today as speculators offloaded their positions even as metal rebounded from a three-week low at the London Metal Exchange on declining global inventories.
At the Multi Commodity Exchange, copper for delivery in April fell by Rs 1.75, or 0.38%, to Rs 458.50 per kg in a business turnover of 56 lots.
Similarly, the metal for delivery in February traded lower by Rs 1.70, or 0.37%, to Rs 453.95 per kg in 1,968 lots.
Analysts attributed the fall in copper futures to trimming of positions by speculators even as copper and other base metals strengthened on falling global stockpiles.
Meanwhile, copper rose 0.4% to $7,244.75 per tonne at the London Metal Exchange.
