 "Copper down 1.2% on global cues, profit-booking")
Amid a weak trend overseas and profit-booking by speculators, copper prices fell by 1.23% to Rs 486.55 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in far-month February fell Rs 6.05, or 1.23%, to Rs 486.55 per kg in a business turnover of 241 lots.
Similarly, copper for delivery in November traded lower by Rs 5.70, or 1.18% to Rs 478 per kg in 2,766 lots.
Besides, profit-booking by speculators after recent gain also weighed on copper prices, they said.
Meanwhile, copper lost 1.70% to trade at $7,124 a tonne on the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in far-month February fell Rs 6.05, or 1.23%, to Rs 486.55 per kg in a business turnover of 241 lots.
Similarly, copper for delivery in November traded lower by Rs 5.70, or 1.18% to Rs 478 per kg in 2,766 lots.
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Analysts attributed the fall in copper futures to a weak global trend on mounting speculation that the Federal Reserve will ease economic stimulus and on concern the US is moving closer to a military strike on Syria.
Besides, profit-booking by speculators after recent gain also weighed on copper prices, they said.
Meanwhile, copper lost 1.70% to trade at $7,124 a tonne on the London Metal Exchange.
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