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Copper futures decline on profit taking, global cues

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Press Trust of India New Delhi

Copper prices fell by Rs 0.60, or 0.19 per cent, to Rs 309 per kg in futures market today, as traders booked profits, influenced by a weakening trend in overseas market.

At the Multi Commodity Exchange platform, copper for delivery in November contract declined by Rs 0.60, or 0.19 per cent, to Rs 309 per kg, with an open interest of 413 lots.

Similarly, the metal for delivery in current-month June contract traded lower by Rs 0.20, or 0.07 per cent, to Rs 303.60 per kg, with a business volume of 29,108 lots.

Market analysts attributed the fall in copper futures to profit taking by speculators amid weakening trend at the London Metal Exchange.

 

Meanwhile, copper for three-month delivery on the London Metal Exchange shed 0.4 per cent to $6,582 a metric tonne.

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First Published: Jun 23 2010 | 2:23 PM IST

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