 "Copper down 0.26% on profit-booking, global cues")
Copper prices moved down by 0.26 per cent to Rs 457.50 per kg in futures trade today as speculators booked profits, driven by a fall in demand in the spot market.
Weak global trends where copper retreated after China's economic growth slowed in the final quarter of last year, crimping the demand outlook for industrial metals further dampened the sentiment.
At the Multi Commodity Exchange, copper for delivery in February fell by Rs 1.15, or 0.26 per cent, to Rs 457.50 per kg in a business turnover of 4,555 lots.
Market analysts said profit-booking by speculators and fall in demand in the spot market amid a weak global trend mainly influenced copper prices at futures trade.
Meanwhile, copper for delivery in three months lost 0.4 per cent to $7,310 a tonne on the London Metal Exchange.
Weak global trends where copper retreated after China's economic growth slowed in the final quarter of last year, crimping the demand outlook for industrial metals further dampened the sentiment.
At the Multi Commodity Exchange, copper for delivery in February fell by Rs 1.15, or 0.26 per cent, to Rs 457.50 per kg in a business turnover of 4,555 lots.
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The April contract traded lower by Rs 1.05, or 0.23 per cent, to Rs 462.20 per kg in 149 lots.
Market analysts said profit-booking by speculators and fall in demand in the spot market amid a weak global trend mainly influenced copper prices at futures trade.
Meanwhile, copper for delivery in three months lost 0.4 per cent to $7,310 a tonne on the London Metal Exchange.
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