Copper weakens in futures trade on profit-booking

Copper futures prices today fell 0.38 per cent to Rs 468.20 per kg, as speculators locked in gains even as metal strengthened overseas.
At the Multi Commodity Exchange, copper for delivery in February declined by Rs 1.80, or 0.38 per cent, to Rs 468.20 per kg in business turnover of 848 lots.
Similarly, the metal for delivery in April fell by Rs 1.40, or 0.29 per cent, to Rs 473.55 per kg in 88 lots.
Analysts attributed the decline to profit-booking at prevailing by speculators but a firming trend at the London Metal Exchange (LME) on strong US unemployment report and as China maintained its growth trajectory, adding to signs of recovery in the biggest users, capped the fall.

Meanwhile, copper for delivery in three-months traded 1.50 per cent higher at USD 7,390 per tonne on the LME, the highest intra-day level since August 27.