Copper down in futures trade on profit-taking, global cues

Copper futures today fell by Rs 0.60, or 0.18 per cent, to Rs 341 per kg due to profit taking by speculators amid weak global cues.

Subdued demand for the metal at the physical markets also kept pressure on the copper futures.

At the Multi Commodity Exchange counter, copper for delivery in August contracts fell by 0.18 per cent to Rs 341 per kg, with a turnover of 39,311 lots. It ended 1.17 per cent lower at Rs 341.60 per kg in the previous session.

Similarly, the metal for delivery in November contract also moved down by Rs 0.55, or 0.16 per cent, at Rs 343.65 per kg, with a turnover of 6,659 lots.

Analysts said besides profit-booking by speculators and subdued demand for the metal at the physical market, overnight losses at the London Metal Exchange after an unexpected jump in weekly US jobless claims, also cast its shadow on the metal at futures market here.