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Copper futures succumbs to profit-booking, global cues

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 4:48 AM IST

Copper fell by Rs 5.65, or 1.57 per cent, to Rs 353.10 per kg in futures trade today, as speculators locked in profits after yesterday's gains.

Weakening trend at the London Metal Exchange, which generally determine the metal rates, also kept some pressure on the prices.

At the Multi Commodity Exchange platform, copper for delivery in November declined by Rs 5.65, or 1.57 per cent, to Rs 353.10 per kg, and clocked a turnover of 9,329 lots. It ended 0.40 per cent higher at Rs 358.75 per kg in the previous session.

Likewise, the metal for delivery in February contract also shed Rs 5.55, or 1.54 per cent, to Rs 355.30 per kg, with a turnover of 580 lots.

Besides, profit-booking by speculators at higher levels, weak trend in prices at the London Metal Exchange (LME) was also responsible for the fall in copper futures here, analysts said.

Meanwhile, three-month copper fell by 2 per cent at $7,520 per tonne at the LME.

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First Published: Sep 09 2010 | 1:15 PM IST

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