Copper futures ease 0.52 per cent on profit-booking

Copper futures traded 0.52 per cent lower at Rs 316.70 today as speculators reduced their exposure to book profits at prevailing levels.

In futures trade at Multi Commodity Exchange, copper for delivery in November fell Rs 1.65 or 0.52 per cent at Rs 316.70 per kg in a business turnover of 916 lots.

Similarly, the metal for delivery in February next year was down Rs 1.15 or 0.35 per cent at Rs 323.40 per kg in 17 lots.

Analysts attributed the fall in copper futures to profit-booking by speculators who trimmed their positions at existing levels but a firm trend in metal at the London Metal Exchange (LME) capped the losses.
 

Meanwhile, copper rose 0.1 per cent to USD 4,740 per tonne at the LME.