Copper futures slip 0.40% on profit booking

Copper prices slipped 0.40 per cent to Rs 463 per kg in futures trade today as speculators booked profits amid easing demand in domestic spot markets.

At the Multi Commodity Exchange, copper for delivery in February declined by Rs 1.85, or 0.40 per cent, to Rs 463 per kg in turnover of 1,452 lots.

Similarly, the metal's April contracts traded lower by Rs 1.65, or 0.35 per cent, at Rs 466.10 per kg in 5 lots.

Analysts said besides profit-booking by participants, fall in demand from consuming industries in the physical market also weighed on futures prices.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel