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Copper rises 0.8% on global cues

Increased domestic demand supported the copper trade

Press Trust of India New Delhi
Supported by a firm global trend and increased domestic demand, copper prices rose 0.81% to Rs 411.25 per kg in futures trade today.

At the Multi Commodity Exchange (MCX), the June contract traded higher by Rs 3.40, or 0.81%, to Rs 411.25 per kg in 2,769 lots.

The August contract edged up by Rs 3.20, or 0.80%, to Rs 416.70 per kg in 139 lots.

Globally, copper for delivery in three months climbed 0.60% to $ 7,090 a tonne on the London Metal Exchange.

Market analysts said besides increased demand from consuming industries, a firming overseas trend on hopes that an increase in May month manufacturing signalled an economic revival in the US, the world's second-biggest consumer of the metal, may boost demand, mainly influenced copper prices at futures trade here.

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First Published: Jun 17 2013 | 1:55 PM IST

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