Copper futures down 0.30% on profit-booking, low demand

Copper prices moved down by 0.30 per cent to Rs 426.60 per kg in futures trade today as speculators indulged in reducing their positions to book profits.

Besides, low demand from consuming industries in the spot market weighed on prices.

At the Multi Commodity Exchange, copper for delivery in November fell by Rs 1.30 or 0.30 per cent to Rs 426.60 per kg in business turnover of 19 lots.

Likewise, the metal for delivery in August traded lower by Rs 1.20 or 0.28 per cent to Rs 420.85 per kg in 521 lots.

Analysts attributed the fall in copper prices at futures trade to profit-booking by participants at current levels coupled with low demand at the domestic spot markets.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)