Copper futures weaken on profit-booking, global cues

Amid profit-booking by speculators and weak trend overseas, copper prices fell by 0.36 per cent to Rs 371.95 per kg futures trade today. 

Subdued demand for the metal at the spot markets also weighed on the metal prices in futures trade here.

At the Multi Commodity Exchange counter, copper for delivery in February contract fell by Rs 1.35, or 0.36 per cent, to Rs 371.95 per kg, with a business turnover of 36 lots.

Similarly, the metal for November delivery weakened by Rs 1.10, or 0.30 per cent, to Rs 370.35 per kg, with an open interest of five lots.

 

Analysts said besides profit-booking by speculators weak trend in base metals at the London Metal Exchange also kept pressure on the copper futures here.

At the London Metal Exchange, three-month copper fell 0.69 per cent to $8,260.25 per tonne.