Copper futures fell during evening trade in the domestic market on Wednesday as investors and speculators exited their positions in the industrial metal amid thin trade due to China’s week-long Lunar New Year holiday. The China’s Shanghai Futures Exchange is closed for the Lunar New Year holiday through to February 2 and will reopen on February 3. 

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Investors sentiment remained dampened amid concerns over a strike looming at the world's biggest copper mine. Workers at BHP Billiton's Escondida mine in Chile have voted to reject a company wage offer and go on strike. However, a workers' union said the company will likely request government mediation to attempt a resolution, which would delay any strike action for about another week. 

At the MCX, copper futures for February 2017 contract is trading at Rs 404 per kg, down by 0.52 per cent, after opening at Rs 406.10, against a previous close of Rs 406.10. It touched the intra-day low of Rs 403.30.