Business Standard

Copper recovers on short covering

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Press Trust of India New Delhi

Supported by short-covering and a higher trend at the London Metal Exchange (LME), copper futures prices recovered by 0.40 per cent to Rs 454.60 per kg today.

At the Multi Commodity Exchange, copper futures prices for delivery in June rose by Rs 1.80, or 0.40 per cent, to Rs 454.60 per kg, with a business turnover of 290 lots.

Similarly, the metal for delivery in April also gained Rs 1.65, or 0.37 per cent, to Rs 450.95 per kg, with a turnover of 5,406 lots. It had lost 0.35 per cent to Rs 449.30 per kg in the previous session.

 

Analysts said sentiment turned better at the domestic futures market here as copper prices strengthened at the LME. 

Meanwhile, copper for three-month delivery went up by 0.16 per cent to $9,883.50 per tonne at the LME.

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First Published: Mar 03 2011 | 1:52 PM IST

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