Business Standard

Copper futures rise on global cues

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Press Trust of India New Delhi

Copper futures prices rose by Re 1, or 0.30 per cent, to Rs 374.10 per kg today, as speculators created positions, led by a firming trend overseas.

Further, pick up in demand for the metal at spot markets also supported the upside in prices. 

At the Multi Commodity Exchange counter, copper for November delivery moved up by Re 1, or 0.30 per cent, to Rs 374.10 per kg, with a turnover of two lots.

Likewise, copper for delivery in February was up by 70 paise, or 0.26 per cent, to Rs 375.65 per kg, with a business turnover of three lots.

 

Analysts said a firming trend at the London Metal Exchange (LME), where copper advanced towards a 27-month high, also improved the demand outlook.

Meanwhile, three-month copper futures were up by 0.30 per cent at $8,425 an ounce on the LME.

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First Published: Oct 15 2010 | 1:20 PM IST

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