Copper prices fell over one per cent to Rs 347.25 per kg in futures trade today as speculators engaged in trimming positions amid a weak global trend.
At the Multi Commodity Exchange, copper for delivery in February was trading Rs 3.70, or 1.05 per cent lower at Rs 347.25 per kg in a business turnover of 459 lots.
In a similar fashion, the metal for delivery in far-month April declined by Rs 3.65, or 1.03 per cent, to Rs 351.50 per kg in 43 lots.
Market analysts said the fall in copper prices at futures trade was due to offloading of positions by speculators,taking weak cues from global market after data showed manufacturing contracted in China, the world?s biggest consumer.
Meanwhile, copper for delivery in three months fell 0.8 per cent to USD 5,622.50 a tonne on London Metal Exchange, while In Shanghai, the metal for March delivery fell 1 per cent to 41,140 yuan (USD 6,616) a tonne.