Copper futures fall 0.14 pc on profit-booking

Copper futures fell 0.14 per cent to Rs 479.70 per kg today as speculators trimmed their positions to book profits even as the metal strengthened overseas.

Muted demand from consuming industries at the domestic spot market also put pressure on prices.

At the Multi Commodity Exchange, copper for delivery in far-month August declined by 65 paise, or 0.14 per cent, to Rs 479.70 per kg, in a business turnover of 23 lots.

The metal for delivery in June fell 50 paise, or 0.11 per cent, to Rs 474.30 per kg, in a business volume of 749 lots.

Analysts attributed the fall in copper prices in futures trade to offloading of positions by participants to book profits at current levels.

Globally, copper for delivery in three-month was flat at USD 7,099 per tonne on the London Metal Exchange. It had gained 1.8 per cent yesterday, while at Shanghai Futures exchange, the most-traded July contract for copper rose 1.8 per cent to 53,020 yuan (USD 8,294.35) per tonne, its highest since March 7, on concerns over supply disruption at the world's biggest copper mine.