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MTECHTIPS;- Copper futures slide 0.16% on profit-booking

Tuesday, March 19, 2019 3:12

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MTECHTIPS;- Copper futures slide 0.16% on profit-booking

MTECHTIPS-Copper prices drifted lower by 0.16 percent to Rs 442.65 per kg on March 19 as speculators book profits amid appreciating rupee. At the Multi Commodity Exchange, copper for delivery in April eased by 70 pause, or 0.16 percent to Rs 442.65 per kg in business turnover of 2,751 lots. Analysts said besides profit-booking by participants, sharp appreciation in the rupee against the US currency that makes dollar-denominated commodities including base metals cheaper for holder of the Indian unit, mainly weighed on copper prices at futures trade. The rupee was trading higher at 68.51 against the dollar at the Interbank Forex market on March 19. Globally, three-month copper closed little changed at USD 6,425 per tonne, down 0.1 percent at the London Metal Exchange on March 18

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