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Copper up 0.15% on spot demand

Firm overseas trend helps uptrend

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Press Trust of India New Delhi

Copper futures prices today rose by 0.15% to Rs 421.05 per kg on pick up in demand and a firm overseas trend.

At the Multi Commodity Exchange, copper for delivery in August traded 65 paise, or 0.15% higher, at Rs 421.05 per kg, with a turnover of 5,516 lots.

November copper was up by 55 paise, or 0.13%, at Rs 425.35 per kg, with a trade volume of 865 lots.

Globally, three-month delivery copper rose by 2.4% in yesterday's trade at the London Metal Exchange, while the metal for December delivery on the Shanghai Futures Exchange climbed 0.6% to 55,190 yuan ($8,688) a tonne.

 

Marketmen attributed the rise in copper futures to a firm trend in overseas and pick up in demand at domestic spot markets.

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First Published: Aug 22 2012 | 11:44 AM IST

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