Copper down on profit-booking, weak global cues

Copper moved down by 0.59% to Rs 422.40 per kg in futures trading today amid profit-booking by speculators and a weak overseas trend. 

At the Multi Commodity Exchange, copper for delivery in April eased by Rs 2.50, or 0.59% to Rs 424.90 per kg, with a business volume of 4,445 lots.

It had ended 0.70% higher at Rs 424.90 per kg in yesterday's trade.

Similarly, the metal for delivery in June fell by 2.45, or 0.56% to Rs 429.50 per kg, with a trade volume of 1,136 lots.

Market analysts said emergence of profit-booking after yesterday's gain along with a weak trend at the London Metal Exchange kept pressure on the copper futures prices.