BS:Copper down marginally as speculators book gains
Copper futures prices today declined by 0.20 per cent to Rs 452.25 per kg, as speculators locked-in gains after recent gains, even as metal strengthened in global markets.
At the Multi Commodity Exchange, copper for delivery in April lost 90 paise, or 0.20 per cent, to Rs 452.25 per kg in business turnover of 107 lots.
February copper shed 25 paise, or 0.19 per cent, to Rs 447.95 per kg in 1,698 lots.
Analysts attributed the decline to profit-booking by speculators after recent gains, a firming trend in base metals at the London Metal Exchange (LME), plans by the Japanese government to spend 10.3 trillion yen ($116 billion) capped the fall.
Meanwhile, copper for delivery in three months rose by 0.6 per cent to $8,162 a tonne at the LME.
