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Copper futures up as global stockpiles decline

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 7:32 PM IST

Supported by firming trend at the London Metal Exchange (LME) as stockpiles diminished, copper futures prices traded 0.52 per cent higher at Rs 432.95 per kg today.

Good demand at the spot market influenced metal prices at futures trade here.

At the Multi Commodity Exchange counter, copper delivery for February edged up by Rs 2.25, or 0.52 per cent, to Rs 432.95 per kg, with a business turnover of 3,695 lots.

Similarly, the metal for delivery in April traded higher by Rs 2.20, or 0.51 per cent, to Rs 435.95 per kg, with a business turnover of 178 lots.

Market analysts said firming trend at the LME where copper's stockpiles declined for the first time since early December to 378,300 tonnes, helped metal prices to trade higher at futures trade here.

Meanwhile, three-month copper at the LME gained 0.57 per cent, to $9,388 a tonne.

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First Published: Jan 11 2011 | 3:29 PM IST

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