The Hindu Business Line : Copper futures fall marginally

NEW DELHI: Copper futures prices on Wednesday marginally fell by Rs 1.05 or 0.3 per cent to Rs 348.75 per kg as speculators booked profits amid weak trend in Asian markets.

However, overnight gains at the London Metal Exchange (LME) capped losses at futures market here.

At the Multi Commodity Exchange counter, copper for delivery in far-month April contract eased by Rs 1.05, or 0.3 per cent, to Rs 348.75 per kg in a turnover of 2,873 lots. February contract also edged lower by Re 1, or 0.29 per cent, to Rs 346.75 per kg with a turnover of 28,683 lots.

At the LME, copper ended $15, or 0.2 per cent, higher at $7,560 per tonne after hitting the week’s high of $7,625 a tonne, while the metal in Shanghai was down by 180 yuan, or 0.29 per cent, to 61,450 yuan per tonne in the morning trade on Wednesday.

Market analysts said besides profit-booking by traders, subdued trend in Shanghai copper after China’s central bank signalled another move to tighten monetary policy, mainly weighed on futures prices. — PTI

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