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Copper futures down on profit-booking

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Press Trust of India New Delhi

Copper fell by 0.17 per cent, or 40 paise, to Rs 355.60 per kg in futures trade today after speculators booked profits.

Subdued demand for the metal at the domestic markets also weighed on the copper prices at futures market here.

At the Multi Commodity Exchange platform, copper for delivery in February eased by 40 paise, or 0.17 per cent, to Rs 355.60 per kg, and clocked a turnover of 68 lots.

Likewise, the metal for delivery in November contract also shed 45 paise, or 0.16 per cent, to Rs 353.60 per kg, with a turnover of 1,186 lots.

Besides, profit-booking by speculators at higher levels, flat trend in base metals at the London Metal Exchange (LME), which generally determine the metal rates, also kept pressure on the copper futures.

 

Meanwhile, three-month copper was trading flat at $7,715 a tonne in early trade today.

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First Published: Sep 21 2010 | 2:09 PM IST

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