Copper futures marginally down on profit-taking, global cues

NEW DELHI: Copper futures prices today declined by 0.09 per cent to Rs 443.45 per kg, as speculators locked-in gains after recent gains amid a weak trend in global markets.

At the Multi Commodity Exchange, copper for delivery in April eased by 35 paise, or 0.09 per cent, to Rs 443.45 per kg in business turnover of 109 lots.

Similarly, the metal for delivery in February fell by 30 paise, or 0.08 per cent, to Rs 428.25 per kg in 2,285 lots.

Analysts attributed the decline in copper futures prices to profit-booking by speculators after recent gains and a weak trend in base metals at the London Metal Exchange (LME) as China's output of the refined metal climbed to a record high.

Globally, copper for delivery in three months rose by 0.3 per cent to $ 8,077.75 a tonne at the LME, while the metal for delivery in May lost 0.5 per cent to 58,520 yuan, a tonne on the Shanghai Futures Exchange.