Copper futures soften on profit booking, global cues

Amid weak trend in global markets and subdued spot demand, copper futures prices fell by one per cent, to Rs 391.90 per kg today.

Copper for delivery in November traded Rs 3.95, or 1 per cent down at Rs 391.90 per kg, with a trade volume of five lots at the Multi Commodity Exchange counter.

It ended 1.97 per cent higher at Rs 395.75 per kg in the previous session.

The metal for February delivery also weakened by Rs 4, or 0.99 per cent, to Rs 395.90 per kg, with a business volume of four lots.

Meanwhile, three-month copper delivery was trading nearly 0.53 per cent lower at $8,754 a tonne at the London Metal Exchange.

Analysts said profit booking by speculators after recent gains and weak trend at the global markets, as China's importers of the metal slumped, put pressure on the metal futures here.