Copper futures succumb to profit-booking; down 0.42 pc

Image
Press Trust of India New Delhi
Last Updated : May 16 2018 | 11:40 AM IST

Copper prices declined 0.42 per cent to Rs 465.05 per kg in futures trade today as participants indulged in trimming positions to book profits amid a weak trend in base metals overseas.

Besides, muted spot demand from consuming industries fuelled the downtrend.

At the Multi Commodity Exchange, copper for delivery in August shed Rs 1.95, or 0.42 per cent, to Rs 465.05 per kg in a business turnover of 25 lots.

Similarly, the metal for delivery in June traded lower by Rs 1.90, or 0.41 per cent, to Rs 461.05 per kg in 1,336 lots.

Analysts attributed the fall in copper futures to trimming of positions by participants to book profits and a weak trend in global markets.

Globally, copper for three-month delivery on the London Metal Exchange was little changed at USD 6,812.50 per tonne.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 16 2018 | 11:40 AM IST

Next Story