 "Copper up 0.1% on global cues, spot demand")
Supported by a firm global trend and increased domestic demand, copper prices rose marginally by 0.15% to Rs 407.20 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in August traded higher by 60 paise, or 0.15%, to Rs 407.20 per kg in business turnover of 9,659 lots.
Copper for delivery in far-month November edged up by a similar margin to Rs 411.95 per kg in 371 lots.
Market analysts said besides increased demand from consuming industries, a firming overseas trend as some investors feels a slowdown in manufacturing in China, the biggest user, had been factored into prices after the biggest quarterly drop in almost two years, mainly influenced copper prices at futures trade here.
At the Multi Commodity Exchange, copper for delivery in August traded higher by 60 paise, or 0.15%, to Rs 407.20 per kg in business turnover of 9,659 lots.
Copper for delivery in far-month November edged up by a similar margin to Rs 411.95 per kg in 371 lots.
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Globally, copper for delivery in three months climbed 0.60% to $6,790 tonne on the London Metal Exchange, while at Shanghai Futures Exchange, it gained 0.4% to 48,790 yuan ($7,959) a tonne.
Market analysts said besides increased demand from consuming industries, a firming overseas trend as some investors feels a slowdown in manufacturing in China, the biggest user, had been factored into prices after the biggest quarterly drop in almost two years, mainly influenced copper prices at futures trade here.