Copper futures soften 1.14%

Copper futures prices fell marginally by 1.14 per cent to Rs 385.15 per kg today as traders booked profits even as the metal staged comeback in global markets. 

At the Multi Commodity Exchange, copper for delivery in February traded at Rs 4.45, or 1.14 per cent, down at Rs 385.15 per kg, with a business volume of one lot.

The metal for delivery in February also weakened by Rs 4.15, or 1.07 per cent, to Rs 389.70 per kg, with a business volume of 23 lots. 

Meanwhile, the three-month copper delivery contract was trading 0.9 per cent higher at $8,691.75 a tonne at the London Metal  Exchange.

Analysts said offloading of positions by speculators led to a fall in copper prices but it bounced back at the global markets as investors deemed the last week's drop as excessive as they expect supply may lag behind demand, capped the losses here.