PTI reported that amid a weak trend on the London Metal Exchange and profit booking by speculators, Indian copper prices fell by 0.25% in futures trade.
At the Multi Commodity Exchange, copper for delivery in August fell by INR 1.05 or 0.25% to INR 427 per kilogram with a business turnover of 3,345 lots. It had closed 0.72% higher at INR 428.05 per kilogram in the previous session. The metal for delivery in November lost INR 1.10 or 0.25% to INR 432.95 per kilogram with a business volume of 288 lots.
Market analysts said that a weakening trend on the London Metal Exchange on demand worries following Moody's downgrading of Portugal's rating, mainly put pressure on the copper prices at futures trade. Besides, profit booking too had a negative impact.
Sourced from Press Trust of India
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