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Copper up 0.30% on global cues, spot demand

Copper on LME up 1.4%, highest since May 30

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Press Trust of India New Delhi

Buoyed by a firm trend overseas and pick-up in domestic demand, copper prices today rose by 0.30% in futures trade.

At the MCX, copper for delivery in June rose by Rs 1.25, or 0.30%, to Rs 419.45 per kg, with a turnover of 28,780 lots.

The August contract was up by Rs 1.20, or 0.28%, at Rs 424 per kg, with a trade volume of 2,282 lots.

Copper rose by 1.4% to $7,615 a tonne, the highest price since May 30, on the London Metal Exchange.

Market analysts attributed the rise in copper futures to a firming trend at the LME after pro-bailout parties won in Greek elections, easing concerns that the country would leave the euro.

 

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First Published: Jun 18 2012 | 1:05 PM IST

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