Copper futures decline 0.38 pc on profit-booking, global cues

Amid a weak trend at the London Metal Exchange and profit-booking by speculators, copper prices declined by 0.38 per cent to Rs 444.70 per kg in futures trade today. 

At the Multi Commodity Exchange, copper for delivery in November declined by Rs 1.70, or 0.38 per cent, to Rs 444.70 per kg, with a business turnover of 769 lots. 

Likewise, the metal for delivery in August shed Rs 1.70, or 0.37 per cent, to Rs 438.75 per, with an open interest of 13,632 lots. 

Market analysts said a weakening trend on the London Metal Exchange ( LME )) and profit-taking by speculators mainly put pressure on the copper prices at futures trade. 

Meanwhile, the copper for three-month delivery dropped 0.6 per cent to USD 9,782 a tonne on the London Metal Exchange.

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