Copper futures fall by 0.93 per cent

Copper futures fell 0.93 per cent to Rs 376.85 per kg today as speculators trimmed their positions to book profits amid a weak trend in global markets.
Muted demand from consuming industries at domestic spot market also put pressure on prices.
At the Multi Commodity Exchange, copper for delivery in far-month February 2017 contracts declined by Rs 3.55 or 0.93 per cent to Rs 376.85 per kg in a business turnover of 12 lots.
The metal for delivery in November fell Rs 3.45 or 0.92 per cent to Rs 371.20 per kg in a business volume1 of 603 lots.
Analysts said apart from profit-booking, a weak trend overseas after recent gains, led to fall in copper prices at futures trade here.

Besides, sluggish demand at domestic spot market too weighed on metal prices at futures trade here.

Globally, copper for delivery in three-month slid 3.6 per cent at the London Metal Exchange (LME).
Meanwhile, copper is the best performer on the LME this quarter and jumped 11 per cent last week to multi-year highs following Donald Trump's surprise US election as he pledged to boost infrastructure spending.
The surge in interest from China and more signs of economic resilience in the country, which consumes more than 40 per cent of the world's supply, have helped prices that lagged most metals throughout the year.