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Copper futures down 0.53% on profit taking, global cues

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Press Trust of India New Delhi

Copper futures prices fell by Rs 1.70, or 0.53 per cent to Rs 320.85 per kg today, as traders booked profits amid weak trend overseas.

At the Multi Commodity Exchange, copper for delivery in June contract traded Rs 1.70, or 0.53 per cent down at Rs 320.85 per kg, with a turnover of 2,292 lots. It ended 1.6 per cent higher at Rs 322.55 per kg in the previous session.

The metal for delivery in August also shed Rs 1.70, or 0.52 per cent to Rs 322.80 per kg, with a turnover of 174 lots.

Market analysts attributed the fall in copper futures to profit taking by speculators following yesterday's rise and a weak trend at global markets on worries about the economic health of the euro zone.
    
Meanwhile, copper at the Shanghai fell by 350 yuan, or 0.62 per cent to 56,310 yuan, while it fell $67, or 0.94 per cent at $7,073 per tonne at the London Metal Exchange.

 

 

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First Published: May 14 2010 | 1:28 PM IST

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