Copper succumbs to profit-booking, down 0.47 per cent

Amid profit-booking by speculators at existing levels, copper futures fell 0.47 per cent to Rs 327.80 per kg today even as metal strengthened overseas.
Moreover, muted demand at domestic spot markets also put pressure on prices.
At the Multi Commodity Exchange, copper for delivery in November declined by Rs 1.55 or 0.47 per cent to Rs 327.80 per kg in a business turnover of 1,091 lots.
The metal for delivery in far-month February next year down Rs 1.40 or 0.42 per cent to Rs 333.25 per kg in a business volume of nine lots.
Analysts said the fall in copper prices at futures trade was mostly attributed to profit-booking by speculators after recent gains amid fall in domestic demand but a firm trend at the London Metal Exchange (LME), minimised the loss.

Globally, copper for delivery in three-months gained 1.4 per cent to settle at USD 4,920 per tonne at the LME in yesterday's trade, after reaching USD 4,922, the highest since August 2 after an unexpected pickup in a Chinese factory gauge.