PTI reported that copper futures fell by 0.34% to INR 415.75 per kilogram due to profit booking by speculators after recent gains.

At the Multi Commodity Exchange, copper for delivery in February lost INR 1.40 or 0.34% to INR 415.75 per kilogram with a trading volume of 7,061 lots. The metal for delivery in April shed INR 1.35 or 0.32% to INR 421 per kilogram with a trading volume of 667 lots.

Analysts said that speculators booked profits following a weakening trend in overseas markets on worries that an unexpected drop in consumer confidence may slow demand in the US economy. Meanwhile, prices of copper for delivery in March fell 3.65 cents to USD 3.79 per pound in New York.

(Sourced from Press Trust of India)