Copper eases on profit-booking

Copper eases on profit-booking

06/12/2016 16:23

Copper futures fell over 1 per cent during evening trade in the domestic market on Tuesday as investors and speculators offloaded their positions in the industrial metal on profit-booking.

Traders attributed the fall in copper futures to profit-booking by speculators who cut down their bets at existing levels amid slide in demand from consuming industries at the domestic spot market.

At the MCX, copper futures for February 2017 contract is trading at Rs 401.80 per kg, down by 1.20 per cent, after opening at Rs 405.45, against a previous close of Rs 406.70. It touched the intra-day low of Rs 401.10 (at 16:17 hours).

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