Copper sheds 0.6% on profit-taking

Metal's strength at London Metal Exchange limit decline

Copper futures prices today declined by 0.63 per cent to Rs 428.60 per kg as speculators reduced their positions even as metal strengthened overseas.     

At the Multi Commodity Exchange, copper for delivery in April eased by Rs 2.50, or 0.63 per cent, to Rs 428.60 per kg in business turnover of 3,536 lots.     

June copper fell by Rs 1.65, or 0.61 per cent, to Rs 433.40 per kg in 203 lots.     

Analysts attributed the decline in copper futures prices to profit-booking by speculators but the metal's strength at the London Metal Exchange (LME) limited the fall.

Globally, copper for delivery in three months rose by 0.8 per cent to $7,761 a tonne at the LME, while the metal for delivery in May declined 0.3 per cent to 56,550 yuan ($9,078) a tonne on the Shanghai Futures Exchange.