Copper futures ease 0.02 pc on profit-booking

Copper futures traded a shade lower at Rs 440.35 per kg today as speculators cut positions at prevailing levels even as the metal strengthened overseas.

At the Multi Commodity Exchange, copper for delivery in April fell shed 10 paise, or 0.02 per cent, to Rs 440.35 per kg, in a business turnover of 898 lots.

Similarly, the metal for delivery in June was down five paise, or 0.01 per cent, at Rs 444.55 per kg in 11 lots.

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

At the LME, three-month copper was up 0.2 per cent at USD 6,810.50 per tonne.