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Copper futures rise 0.26 pc on global cues, spot demand

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Press Trust of India New Delhi
Last Updated : Oct 28 2014 | 5:10 PM IST
Copper prices rose by 0.26 per cent to Rs 417.85 per kg in futures trade today as speculators created fresh positions, tracking a firming global trend.
Besides, pick-up in demand from consuming industries in the spot market further furlled the uptrend.
At the Multi Commodity Exchange, copper for delivery in November moved up by Rs 1.10, or 0.26 per cent to Rs 417.85 per kg in business turnover of 1,284 lots.
Similarly, the metal for delivery in February next year traded higher by 90 paise, or 0.21 per cent to Rs 422.70 per kg in 50 lots.
Market analysts attributed the rise in copper futures to a firm global trend where copper traded at almost two-week high as a looming strike at the world's third- largest mine fuelled supply concerns.
Meanwhile, copper for delivery in three months gained USD 0.1 per cent to USD 6,739 a tonne on the London Metal Exchange.

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First Published: Oct 28 2014 | 5:10 PM IST

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