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Copper up 0.2% on global cues

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 2:54 AM IST

Buoyed by a firming trend overseas and a pick-up in spot demand, copper futures today strengthened by 0.22% to Rs 416.50 per kg.

At the Multi Commodity Exchange, the April delivery rose by 90 paise, or 0.22%, to Rs 416.50 per kg, with a turnover of 4,588 lots.

The June contract was up by 650 paise, or 0.20%, at Rs 422 per kg, with a trade volume of 380 lots.

Globally, copper for three-month delivery rose by 0.70% to $8,095 a tonne on the London Metal Exchange, while on the Shanghai Futures Exchange, the July delivery climbed 0.2% to 57,980 yuan ($9,192) a tonne.

Market analysts attributed the rise in copper futures trade to a firming trend at the London Metal Exchange as better-than-expected car sales in China and speculations of monetary easing by the world's biggest consumer boosted the demand outlook.

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First Published: Apr 12 2012 | 11:51 AM IST

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