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Copper futures down on global cues, profit booking

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Press Trust of India New Delhi

Copper futures prices fell by 1.18 per cent today amid weak global cues and profit booking by speculators.

At the Multi Commodity Exchange, copper for delivery in April declined by Rs 5.20, or 1.18 per cent, to Rs 433.90 per kg, with a business volume of 8,088 lots.

Similarly, the metal for delivery in June also traded Rs 5, or 1.12 per cent, lower at Rs 439.70 per kg, with an open interest of 485 lots.

Market analysts said besides profit booking by speculators, weak trend at the London Metal Exchange put pressure on the copper prices at futures trade here. Meanwhile, copper prices fell 1.34 per cent at the LME.

 

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First Published: Mar 28 2011 | 1:30 PM IST

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