Copper prices fall in futures trade as speculators offload bets

Copper futures traded lower 1.75 per cent to Rs 447.15 per kg Thursday as speculators offloaded their bets to book profits. Besides, subdued demand at the domestic spot market further pushed down metal prices here.

At the Multi Commodity Exchange, copper for delivery in April shed Rs 7.95, or 1.75 per cent, to Rs 447.15 per kg in a business turnover of 12,087 lots. On similar lines, the metal for delivery in June eased by Rs 7.55, or 1.64 per cent, to Rs 451.75 per kg in a business turnover of 2,219 lots.

Analysts attributed the fall in copper prices to offloading of positions by participants amid muted demand at the domestic spot market.