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Copper futures down on profit-booking weak global cues

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Press Trust of India New Delhi

Copper futures prices fell by 0.61% to Rs 422.70 per kg today as speculators booked profits after yesterday's gains amid a weak trend at the London Metal Exchange.

At the Multi Commodity Exchange, copper for delivery in April shed Rs 2.60, or 0.61%, to Rs 422.70 per kg, with a business volume of 3,412 lots.

It had ended 0.40% higher at Rs 425.30 per kg in yesterday's trade.

The metal for delivery in June also declined by Rs 2.50, or 0.61%, to Rs 428.55 per kg, with a business volume of 239 lots.

Market analysts said besides profit-booking by speculators, weak trend at the London Metal Exchange (LME) also put pressure on the copper futures prices here.

At the LME, copper was down 0.77% in the morning trade today.

 

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First Published: Apr 01 2011 | 11:59 AM IST

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