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Copper extends gains on higher global cues

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 12:53 AM IST

Supported by a firming trend overseas on speculation that demand from China may grow, traders enlarged their positions, pushing up copper prices by 0.54% in futures trade today.

At the Multi Commodity Exchange, November copper rose by Rs 2.10, or 0.54%, to Rs 390.85 per kg, with a business turnover of 2,347 lots.

The February contract was up by Rs 1.80, or 0.46%, at Rs 396 per kg, with a trade volume of 303 lots.

Globally, copper for three-month delivery rose by 0.4% to $7,791.25 a tonne on the London Metal Exchange (LME).

Analysts attributed the rise in copper in futures trade to a firming trend on the LME on speculation that China may loosen its monetary policy to spur economic growth in the world's biggest consumer of the metal.

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First Published: Nov 15 2011 | 10:50 AM IST

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