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Copper futures slide 0.87% on profit booking

Press Trust of India  |  New Delhi 

Copper prices moved down by 0.87 per cent to Rs 431.05 per kg in futures trading as speculators booked profits amid easing demand from consuming industries in the spot market.

However, firm trend overseas capped the fall.

At the Multi Commodity Exchange, copper for delivery in

November declined by Rs 3.80, or 0.87 per cent to Rs 431.05 per kg in business turnover of 1,512 lots.

Similarly, the for delivery in February was trading lower by Rs 3.70, or 0.84 per cent to Rs 438.70 per kg in 529 lots.

Analysts said besides profit-booking by participants, easing demand from consuming industries in the spot market mainly weighed on copper prices at futures trade here but a firm trend overseas capped the slide.

Globally, copper for delivery in three-month climbed 0.4 per cent to USD 6,225 a tonne, extending a 1.3 per cent jump from the previous session.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 29 2018. 10:55 IST
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