Business Standard

Copper up 0.2% on global cues

Image

Press Trust of India New Delhi

Buoyed by a firming trend overseas and a pick-up in spot demand, copper futures today strengthened by 0.22% to Rs 416.50 per kg.

At the Multi Commodity Exchange, the April delivery rose by 90 paise, or 0.22%, to Rs 416.50 per kg, with a turnover of 4,588 lots.

The June contract was up by 650 paise, or 0.20%, at Rs 422 per kg, with a trade volume of 380 lots.

Globally, copper for three-month delivery rose by 0.70% to $8,095 a tonne on the London Metal Exchange, while on the Shanghai Futures Exchange, the July delivery climbed 0.2% to 57,980 yuan ($9,192) a tonne.

 

Market analysts attributed the rise in copper futures trade to a firming trend at the London Metal Exchange as better-than-expected car sales in China and speculations of monetary easing by the world's biggest consumer boosted the demand outlook.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 12 2012 | 11:51 AM IST

Explore News