Copper down nearly 1% on profit-booking

Firm global trend caps losses

Copper futures prices fell by Rs 3.75 to Rs 408.15 per kg today as speculators booked profits at prevailing higher levels even as the metal rose overseas.

At the MCX, copper for delivery in June fell by Rs 3.75, or 0.91%, to Rs 408.15 per kg in business turnover of 35,218 lots.

The August contract declined by Rs 3.70, or 0.89%, to Rs 413.20 per kg in 2,566 lots.

Market analysts said emergence of profit-booking by speculators at existing higher levels mainly led to fall in copper prices at futures trade but firming trend overseas, restricted the fall.

Meanwhile, copper for three-month climbed 0.9% to $7,473.50 a tonne on the London Metal Exchange.