ET:Copper futures fall 0.86 per cent on global cues, profit-booking
NEW DELHI: Amid a weak trend overseas and profit-booking by speculators, copper prices fell by 0.86 per cent to Rs 478.50 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in February month fell by Rs 4.15, or 0.86 per cent, to Rs 478.50 per kg in business turnover of 64 lots.
Similarly, the metal for delivery in November traded lower by Rs 4, or 0.84 per cent, to Rs 469.40 per kg in 2,640 lots.
Analysts attributed the fall in copper futures to a weak global trend on concerns that the US Federal Reserve may curtail stimulus, reducing demand for the metal.
Besides, profit-booking by speculators after recent gain also weighed on copper prices, they said.
Meanwhile, copper fell 0.60 per cent to trade at 7,150 dollar a tonne on the London Metal Exchange, while at the Shanghai Futures Exchange, the metal for delivery in December declined 0.9 per cent to 51,800 yuan (USD 8,465) a tonne.
