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Copper futures react to profit-booking, weak global cues

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Press Trust of India New Delhi

Copper prices fell by Rs 1.10, or 0.33 per cent, to Rs 332.80 per kg in futures trade today after speculators booked profits amid weak overseas trend.

Subdued demand for the metal at the physical markets also kept pressure on the copper futures prices.

Copper for delivery in August-month contract fell by Rs 1.10, or 0.33 per cent, to Rs 332.80 per kg, with a turnover of 2,897 lots. It ended 0.69 per cent higher at Rs 333.90 per kg in the previous session.

Similarly, the metal for delivery in November-month contract shed Rs 1.05, or 0.31 per cent, at Rs 335 per kg, with a business turnover of 176 lots.

 

At the London Metal Exchange and Shanghai, copper was down over half per cent in early trade today.

Besides, profit-booking, weak trend at the London Metal Exchange and Shanghai also kept pressure on the copper prices at futures trade here. 

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First Published: Jul 27 2010 | 1:53 PM IST

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