Business Standard

Copper futures slightly up on global cues

Image

Press Trust of India New Delhi

Taking strong cues from global markets, copper futures prices rose by Rs 1.80, or 0.48 per cent, to Rs 378.40 per kg in futures trade today on fresh buying by speculators.

Firming trend at spot markets on pick up in demand from consuming industries also supported the uptrend.

At the Multi Commodity Exchange platform, copper delivery for February rose by Rs 1.80, or 0.48 per cent, to Rs 378.40 per kg, with a business turnover of just one lot.

Similarly, the metal for delivery in November traded higher by Rs 1.75, or 0.47 per cent, to Rs 376.55 per kg, with a business turnover of 18 lots.

Analysts said reports of firming trend at overseas markets, where the metal climbed to a 27-month high and pick up in demand at domestic markets, mainly influenced the copper futures prices.

Meanwhile, copper for the three-month delivery gained 1.5 per cent, to USD 8,485 a metric tonne on the London Metal Exchange, the highest price since July 2008.

 

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

First Published: Oct 14 2010 | 2:20 PM IST

Explore News