Copper futures down 0.8% on profit taking, global cues

Copper futures prices fell by Rs 2.55 or 0.79 per cent to Rs 318.85 per kg today, as traders booked profits amid weak trend overseas.

At the Multi Commodity Exchange, copper for delivery in June contract fell Rs 2.55, or 0.79 per cent to Rs 318.85 per kg, with a turnover of 3,599 lots. It ended 1.2 per cent higher at Rs 321.40 per kg in the previous session.

The metal for delivery in August also shed Rs 2.55, or 0.79 per cent to Rs 320.85 per kg, with a turnover of 339 lots. Market analysts attributed the fall in copper futures to profit taking by speculators following yesterday's rise and weak trend at global markets.

Meanwhile, copper at the Shanghai fell by 220 yuan, or 0.39 per cent to 56,400 yuan, while it fell $46, or 0.65 per cent at $7,074 per tonne at the London Metal Exchange.