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Copper futures up on firm global cues, spot demand

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Press Trust of India New Delhi

Buoyed by firming trends overseas, copper futures today rose by Re 1, or 0.27 per cent, to Rs 343.20 per kg at the Multi-Commodity Exchange.

Copper for delivery in August traded higher by Re 1, or 0.27 per cent, at Rs 343.20 per kg with a business volume of 3,175 lots.

The metal for delivery in November also gained Rs 0.95, or 0.26 per cent, to Rs 345.60 per kg in turnover of 256 lots.

Analysts said that recovery in copper prices at the London Metal Exchange after remaining weak in the past few sessions, influenced metal prices at the futures market here.   

 

Besides pick up in demand in spot markets also supported the upside in copper in futures trade here.

At LME, coper for three-month delivery gained 1.2 per cent to $7,461 a metric tonne in early trade today.

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First Published: Aug 09 2010 | 12:50 PM IST

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