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Copper down 0.66% on profit-booking

Weak overseas trend influences prices

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 5:29 AM IST

Amid profit-booking by speculators and a weak trend overseas, copper prices declined by 0.66% to Rs 447.50 per kg in futures trade today.

At Multi Commodity Exchange, copper for delivery in February fell by Rs 2.95, or 0.66%, to Rs 447.40 per kg, with a business turnover of 803 lots.

November copper traded lower by Rs 2.85, or 0.64%, to Rs 442.55 per kg, with a business turnover of 7,213 lots.

Marketmen said besides profit-booking by speculators, a weak trend in overseas markets due to a firm dollar and concerns over Europe's debt crisis, led to the fall in copper prices at futures trade.

Meanwhile, copper for three-month delivery slipped as much as 0.50% to $8,238 a tonne on the London Metal Exchange, reversing an advance in the previous session.

At Shanghai, the metal for most-active January contract dropped 1.1% to 59,090 yuan ($9,400) per tonne.

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First Published: Sep 24 2012 | 1:43 PM IST

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