Copper futures ease 0.78 per cent on profit-booking

Copper futures traded 0.78 per cent lower at Rs 315 today as speculators cut down their positions at prevailing levels to book profits even as metal strengthened overseas.
In futures trading at the Multi Commodity Exchange, copper for delivery in current month fell Rs 3.15, or 0.78 per cent at Rs 315 per kg, in a business turnover of 1,223 lots.
Similarly, the metal for delivery in far-month February was down Rs 2.80, or 0.69 per cent at Rs 403.95 per kg in 372 lots.
Analysts attributed the fall in copper futures to profit-booking by speculators who trimmed their positions at existing levels but a firm trend in base metals, capped the fall.

Meanwhile, copper for three-month delivery climbed as much as 3.8 per cent to USD 5,97.50 per tonne before settling at USD 5,868 on the London Metal Exchange (LME) yesterday.