 "Copper up 0.09% on strong global cues, spot demand")
Continuing its price rise, copper gained 0.09% to Rs 454.40 per kg in futures trade today as speculators engaged in enlarging their positions on the back of a firming overseas trend ahead of Chinese trade data.
At the Multi Commodity Exchange, copper for delivery in February next year traded 40 paise, or 0.09%, higher at Rs 454.40 per kg in a turnover of 37 lots.
Likewise, the metal for delivery in November traded higher by 30 paise, or 0.07%, to Rs 443.85 per kg in 1,886 lots.
Also, a pick-up in demand in the spot market further fuelled the uptrend, they said.
Meanwhile, copper rose 0.4% to $7,170.25 a tonne on the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in February next year traded 40 paise, or 0.09%, higher at Rs 454.40 per kg in a turnover of 37 lots.
Likewise, the metal for delivery in November traded higher by 30 paise, or 0.07%, to Rs 443.85 per kg in 1,886 lots.
Also Read
Market analysts attributed the rise in copper futures to a recovery in the global markets ahead of the Chinese trade data that may show sustained demand from the biggest metal users and the US as politicians continued talks to avoid a debt default.
Also, a pick-up in demand in the spot market further fuelled the uptrend, they said.
Meanwhile, copper rose 0.4% to $7,170.25 a tonne on the London Metal Exchange.