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Copper rises on global cues, spot demand

The April delivery edged up by Rs 1.15, or 0.26%, to Rs 451 per kg

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Press Trust of India New Delhi

Taking positive cues from the global markets and a pick up in domestic demand, copper prices rose by 0.26% to Rs 446.85 per kg in futures trade today.

At the Multi Commodity Exchange, the February copper traded higher by Rs 1.15, or 0.26%, at Rs 446.85 per kg, with a business turnover of 2,279 lots.

The April delivery edged up by Rs 1.15, or 0.26%, to Rs 451.05 per kg, with a business turnover of 198 lots.

Marketmen said a firm global trend on hopes that demand may rise after China said it would keep economic policies stable, mainly influenced copper prices at futures trade here.

Further, increased demand at domestic spot markets from consuming industries also supported the upside, they said.

Meanwhile, copper for delivery in three months gained 0.3% to trade at near six-week high of USD 8,055 a tonne on the London Metal Exchange.

 

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First Published: Dec 05 2012 | 11:19 AM IST

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