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Copper up 0.12% on strong global cues

Prices rose as speculators enlarged positions

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Press Trust of India New Delhi

Copper futures for April up by 50 paise, or 0.12%, to Rs 448.85 per kg in 354 lots.

At the Multi Commodity Exchange (MCX), the February contract traded higher by 35 paise, or 0.07%, to Rs 444.05 per kg in 3,951 lots.

Prices rose as speculators enlarged positions.

China and US recovering while boosting outlook for base metals demand in the two economies triggered the uptrend globally in copper futures trde.

Besides, pick-up in domestic market demand also supported the upside, traders said.

At the London Metal Exchange (LME), the three months' contract climbed 0.7% to $8,346 per tonne while at Shanghai, it advanced 0.6% to 60,000 yuan ($9,633) per tonne.

 

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First Published: Feb 04 2013 | 1:58 PM IST

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