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Copper down on profit-booking, weak overseas cues

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Press Trust of India New Delhi

Copper prices fell by Rs 2.85 to Rs 32.75 per kg in futures trade today, as speculators locked-in profits on a weak global trend.

Subdued demand for the metal at physical markets too put pressure on the copper futures trade.

At the Multi Commodity Exchange counter, copper for delivery in most-active August contract eased by Rs 2.85 or 0.86 per cent to Rs 328.75 per kg, with a turnover of 23,767 lots.

The copper for delivery in far-month November contract also fell by Rs 2.75 or 0.82 per cent to Rs 331.30 per kg, with a turnover of 1,597 lots.

 

Analysts said fresh selling by traders to book profits and weak trend at the London Metal Exchange put pressure on the copper prices at futures market here.

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First Published: Jul 26 2010 | 1:26 PM IST

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