Business Standard

Copper rebounds 0.46% on global cues

Pick up in domestic demand fuels uptrend

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Press Trust of India New Delhi

Supported by a firming trend in global markets, copper futures prices recovered by 0.46% to Rs 435.45 per kg today as speculators enlarged positions.

At the Multi Commodity Exchange, copper for delivery in November traded Rs 2, or 0.46%, to Rs 435.45 per kg, with a business turnover of 7,192 lots.

February copper gained Rs 1.85, or 0.42%, to Rs 440.85 per kg, with a business turnover of 1,050 lots.

Marketmen said a firming trend overseas on bargain buying by investors after copper touched a one-week low in yesterday's trade and pick up in domestic demand helped copper futures to trade higher.

 

Meanwhile, copper for the metal for delivery in three months climbed 0.20% to $8,202.25 per tonne on the London Metal Exchange.

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First Published: Oct 09 2012 | 11:44 AM IST

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