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Copper futures marginally up on global cues

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Press Trust of India New Delhi

Copper futures prices marginally up by 0.09 per cent, to Rs 380.40 per kg today after tracking strong overseas markets and weaker rupee.

At the Multi Commodity Exchange counter, copper delivery for November rose by 35 paise, or 0.09 per cent, to Rs 380.40 per kg, with a business turnover of 14 lots.

Likewise, the metal for delivery in February traded higher by 25 paise, or 0.07 per cent, to Rs 382.45 per kg, with a business turnover of two lots.
    
Analysts said reports of firming trend at overseas markets and a weaker rupee, depreciated by 14 paise to Rs 44.49 against the dollar and influenced copper prices at futures trade here.
    
A weak rupee makes the dollar-quoted metals expensive.
    
Meanwhile, copper for the three-month delivery gained 0.4 per cent, to $8,554 a metric tonne on the London Metal Exchange, the highest level since July 2008.

 

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First Published: Oct 26 2010 | 1:33 PM IST

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