Copper weakens in futures trade on profit-booking

Copper fell by Rs 0.60, or 0.17 per cent, to Rs 357.65 per kg in futures trade today, as speculators booked profits at existing higher levels amid weakening global trend.

At the Multi Commodity Exchange platform, copper for February delivery fell by Rs 0.60, or 0.17 per cent, to Rs 357.65 per kg, with a business turnover of 25 lots.

The metal for delivery in November also declined by the similar margin to Rs 359.70 per kg, with a turnover of one lot. It ended 0.10 per cent higher at Rs 358.25 per kg in the previous session.

Analysts said besides profit-booking by speculators after yesterday's gains, weak trend at the London Metal Exchange (LME) also kept pressure on the copper futures here.

 

Meanwhile, copper fell by 0.27 per cent to $7,625 per tonne at the LME.