Copper futures weaken on global cues
Copper futures fell by 0.34% to Rs 415.75 per kg today due to profit-booking by speculators after recent gains.
At the Multi Commodity Exchange, copper for delivery in February lost Rs 1.40, or 0.34%, to Rs 415.75 per kg, with a trading volume of 7,061 lots.
The metal for delivery in April shed Rs 1.35, or 0.32%, to Rs 421 per kg, with a trading volume of 667 lots.
Analysts said speculators booked profits following a weakening trend in overseas markets on worries that an unexpected drop in consumer confidence may slow demand in the US economy.
Meanwhile, prices of copper for delivery in March fell 3.65 cents to $3.79 per pound in New York in yesterday.