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Copper gains on firming global trend

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

Copper traded marginally higher by Re one or 0.33 per cent to Rs 300.90 per kg in futures trade today, after tracking a firming trend overseas.

Pick up in demand at physical markets also supported the upside in copper futures prices.

At the Multi Commodity Exchange platform, copper for delivery in  August contract gained Re one, or 0.33 per cent to Rs 300.90 per kg, with an open interest of 5,578 lots.

The metal for delivery in June contract also traded higher by Rs 0.90, or 0.30 per cent to Rs 296.95 per kg, with a business turnover of 30,609 lots. It ended 3 per cent higher at Rs 296.05 per kg in yesterday's trade.

Analysts said firming trend at global markets after strong Chinese exports spurred optimism for the global recovery, influenced copper prices in futures trade here.

Meanwhile, three-month copper traded 2.51 per cent higher at $6,320 per tonne at the London Metal Exchange.

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First Published: Jun 10 2010 | 1:23 PM IST

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