Copper futures slip on profit taking, global cues

PTI New Delhi | Updated on January 25, 2011 Published on January 25, 2011

Copper futures prices declined by over one per cent to Rs 435.05 a kg in futures trading on Tuesday as speculators locked in gains after yesterday’s gains, amid weak trend overseas.

At the Multi Commodity Exchange counter, copper for the delivery in February declined by Rs 4.55 or 1.06 per cent to Rs 435.05 a kg, with a business turnover of 9,409 lots. It ended 0.40 per cent higher at Rs 439.60 a kg in the previous session.

The metal for delivery in April also traded lower by Rs 4.65 or 1.05 per cent to Rs 437.80 a kg, with an open interest of 865 lots.

Market analysts said emergence of profit booking at higher levels, amid weakening trend at the London Metal Exchange (LME), mainly weighed on the futures prices here.

Meanwhile, copper futures prices fell by half a per cent at the LME in early trade on Tuesday.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on January 25, 2011
This article is closed for comments.
Please Email the Editor