PTI reported that copper futures prices turned weak in futures trade and prices fell by 0.37% as traders preferred to book profits even as global cues remained firm.

Subdued demand for the metal in the spot markets also weighed on copper prices at the futures market here.

At the MCX copper for delivery for far month February contract eased by 0.37% to INR 310.50 per kilogram with business turnover in 186 lots. Similarly, the metal for delivery in November contract moved down by 0.36% to INR 310.45 per kilogram with business turnover in 186 lots.

Analysts said that emergence of profit taking by speculators mainly led to decline in copper prices at futures market here but overnight gains in metal at the London Metal Exchange, avoided any major fall.

Meanwhile, 3 month copper settled USD 110 at USD 6,570 per tonne on Wednesday’s trade.

(Sourced from PTI)