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Copper prices fell by 0.27 per cent to Rs 409.60 per kg at the futures trade today as speculators booked profits after yesterday’s gains amid a weakening trend at the London Metal Exchange.
Also, subdued demand at the domestic market put pressure on the copper futures here.
At the Multi Commodity Exchange, copper for delivery in June fell by Rs 1.10 or 0.27 per cent to Rs 409.60 per kg with a business turnover of 4,046 lots. It had ended 2.40 per cent higher at Rs 410.70 per kg in the previous session.
Similarly, the metal for delivery in August eased by Rs 1.10 or 0.26 per cent to Rs 414.70 per kg, with a business volume of 384 lots.
Market analysts said besides profit-booking by speculators, a weakening trend at the London Metal Exchange (LME) on the back of strengthening dollar put pressure on copper prices at the futures trade here.
Meanwhile, copper for three-month delivery at the LME fell by 0.4 per cent to $9,132 a tonne in the early trade today.
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