Copper futures down on profit-booking,global cues

Amid profit-booking by speculators and a weak trend overseas,copper prices declined by 0.60 per cent to Rs 450.50 per kg in futures trade today.

Written by Agencies | Published:September 11, 2012 11:32 am

Amid profit-booking by speculators and a weak trend overseas,copper prices declined by 0.60 per cent to Rs 450.50 per kg in futures trade today.

At Multi Commodity Exchange,copper for delivery in November declined by Rs 2.70,or 0.60 per cent,to Rs 450.50 per kg,with a business turnover of 11,320 lots. Similarly,the metal for delivery in far-month February traded lower by Rs 2.60,or 0.57 per cent,to Rs 455.35 per kg,with a business turnover of 1,360 lots. Marketmen said besides profit-booking by speculators,a weak trend in overseas markets where the metal slipped from four-month peak,led to a fall in copper prices at futures trade.

Meanwhile,copper for three-month delivery slipped as much as 0.72 per cent to USD 8,010.25 a tonne on the London Metal Exchange,reversing an advance in the previous session when it hit USD 8,109.75 a tonne,the highest since May 10.

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