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Copper futures recover on global trend, spot demand

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 3:13 AM IST

Copper traded Rs 1.45 or 0.30 per cent higher at Rs 318.85 per kg in futures trade today after traders covered up their positions, driven by a recovery in global markets.

Firming trend at physical markets on pick up in industrial demand also influenced the copper futures prices.

At the Multi Commodity Exchange platform, copper for August contract recovered by Rs 1.45, or 0.30 per cent to Rs 38.85 per kg, with a business turnover of 391 lots.

The metal for delivery in June contract also gained Rs 0.85, or 0.20 per cent at Rs 315.45 per kg, with a turnover of 4,892 lots. It closed 1.6 per cent down at Rs 314.60 per kg in yesterday's trading.
    
Market analysts said recovery at the London Metal Exchange on positive US home and auto sales reports and pick up in domestic industrial demand, helped copper futures to trade higher.
    
Meanwhile, three-month copper rose 0.25 per cent at $6,710 a tonne.

 

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First Published: Jun 03 2010 | 1:42 PM IST

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