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Copper recovers in futures trade on overseas trend

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 3:38 AM IST

Copper traded Rs 1.50, or 0.48 per cent, higher at Rs 312.75 per kg in futures trading today, as speculators enlarged their positions, triggered by firming trend overseas.

Besides, pick up in demand at physical markets also supported the uptrend in copper futures prices.

On the Multi Commodity Exchange platform, copper for delivery in August contract gained Rs 1.50, or 0.48 per cent, to Rs 312.75 per kg, with a business volume of 8,066 lots.

The metal for delivery in November contract also traded higher by Re 1, or 0.30 per cent, to Rs 315.40 per kg, with a turnover of 559 lots.

At the London Metal Exchange, the copper for three-month delivery gained as much as 0.38 per cent at $6,665.50 a tonne in early trade.

Analysts said positive trend at the London Metal Exchange in early trade today after yesterday's sell-off, helped metal prices to recover at futures market here.

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First Published: Jul 15 2010 | 2:13 PM IST

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