Copper weakens in futures trade on profit-taking

NEW DELHI: Amid profit booking by speculators and weak global trend, copper slipped marginally by 0.20 per cent, to Rs 353.60 per kg in futures trade today.

A strong rupee also kept pressure on the metal in futures trade here.

At the Multi Commodity Exchange counter, copper for delivery in November contract eased by 70 paise, or 0.20 per cent, to Rs 353.60 per kg, with a turnover of 32,517 lots.

The metal for delivery in February also fell by a similar margin to Rs 355.70 per kg, with a turnover of 2,286 lots.

Market analysts said profit booking by speculators and weak trend at the London Metal Exchange, weighed on the copper futures here.

In addition, a stronger rupee which makes dollar-quoted commodities cheaper also put pressure, they said.