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Indian copper futures fall on profit booking and global cues

ET reported that Indian copper futures prices fell by 0.71% to INR 420.10 per kilogram as speculators booked profits after yesterday's gain. A weakening trend at the London Metal Exchange also kept pressure on the copper futures prices.

At the Multi Commodity Exchange, copper for delivery in June eased by INR 3.05 or 0.71% to INR 420.10 per kilogram with a business volume of 2,252 lots. It had ended 1.47% higher at INR 423.150 per kilogram in the previous session. Similarly, the metal for delivery in August shed INR 3 or 0.70% to INR 425.60 per kilogram with a trade volume of 148 lots.

Market analysts said that offloading by speculators to book profits amid a weak trend at the London Metal Exchange on stronger dollar mainly led to the decline in copper futures prices here.

Meanwhile, copper for three month delivery was trading 1.01% lower at USD 9,247.50 per tonne in early trade today at the London Metal Exchange pressured by a stronger dollar overseas.

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