 "Copper rise by 0.7% on positive global cues")
Copper futures rose by 0.69% to Rs 364.95 per kg today as speculators created fresh positions amid positive cues from overseas markets and pick-up in spot demand.
At the Multi Commodity Exchange, copper for delivery in April was trading higher by Rs 2.50, or 0.69%, to Rs 364.95 per kg, with a turnover of 109 lots.
Similarly, the metal for delivery in February was up by Rs 2.25, or 0.63%, at Rs 360.05 per kg, with a trade volume of 2,391 lots.
Market analysts attributed the rise in copper futures to a firming trend on the LME before credit data is released by China, the largest consumer of metals.
Besides, pick-up on spot demand supported the upside, they added.
At the Multi Commodity Exchange, copper for delivery in April was trading higher by Rs 2.50, or 0.69%, to Rs 364.95 per kg, with a turnover of 109 lots.
Similarly, the metal for delivery in February was up by Rs 2.25, or 0.63%, at Rs 360.05 per kg, with a trade volume of 2,391 lots.
Also Read
Globally, copper for three-month delivery traded higher at $5,738 a tonne on the London Metal Exchange (LME), while in Shanghai, the contract for delivery in April gained 1.8% to 41,850 yuan ($6,704) per tonne.
Market analysts attributed the rise in copper futures to a firming trend on the LME before credit data is released by China, the largest consumer of metals.
Besides, pick-up on spot demand supported the upside, they added.