Copper futures down on profit-booking

Copper prices fell 0.55 percent to Rs 407.35 per kg in futures trade Monday as participants cut bets to book profits. Besides, subdued demand from consuming industries in the spot market weighed on prices.

At the Multi Commodity Exchange, copper for delivery in February declined Rs 2.25, or 0.55 per cent, to Rs 407.35 per kg, in a business turnover of 2,864 lots.

Analysts said off-loading of positions by traders to book profits at existing levels and subdued demand at the domestic physical market weighed on copper futures.

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Source: Moneycontrol