Copper futures fall on profit-booking, low demand

Copper futures traded 0.21 per cent lower at Rs 451.30 per kg today as speculators trimmed positions amid muted demand at the domestic spot markets.
However, firm trend in metal at the London Metal Exchange (LME), capped the fall.
At the Multi Commodity Exchange, copper for delivery in February next year declined by 95 paise, or 0.21 per cent, to Rs 457.10 per kg in a business turnover of 104 lots.
The metal for delivery in November too fell by 80 paise, or 0.18 per cent, to Rs 451.30 per kg in a business volume of 936 lots.
Analysts said a weak trend in most industrial metals at the domestic spot markets due to slack demand from consuming industries mainly put pressure on copper futures here but a firm trend at the LME, restricted the losses.

Globally, copper for three-month delivery was trading at one-month high of USD 7,024 per tonne at the LME, and is on track for a 26 per cent annual gain, which would be its biggest since 2010.