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Copper succumbs to profit-booking, weak global cues

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Press Trust of India New Delhi

Copper futures prices fell marginally by 0.83% today after speculators booked gains amid a weak trend overseas on demand concerns.

At the Multi Commodity Exchange, copper for delivery in April eased by Rs 3.45, or 0.83% to Rs 429.50 per kg, with a business volume of 4,434 lots.

It had ended 0.60% higher at Rs 432.95 per kg in the previous session.

Similarly, the metal for delivery in June edged lower by 3.65, or 0.83% to Rs 440.25 per kg, with a trade volume of 1,076 lots.  

Market analysts said apart from profit-booking by speculators, weak trend at Shanghai and US market on worries about credit conditions in China, mainly put pressure on the copper futures prices here.

 

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First Published: Apr 25 2011 | 1:17 PM IST

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