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Copper futures gain 0.32 pc on global cues, spot demand

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Press Trust of India New Delhi
Copper prices rose by 0.32 per cent to Rs 360.45 per kg in futures trade today as speculators created fresh positions, tracking a firm global trend.

Besides, pick up in demand from consuming industries in the spot market supported the upside.

At the Multi Commodity Exchange, copper for delivery in April month moved up by Rs 1.15, or 0.32 per cent to Rs 360.45 per kg on a business turnover of 414 lots.

Similarly, the metal for delivery in February contracts edged higher by Rs 1.05, or 0.30 per cent, to Rs 355.35 per kg in 14,453 lots.

Market analysts attributed the rise in copper futures to a firm global trend ahead of housing data from the US, and as Greece may request an extension of its loan agreement for six months.
 

Meanwhile, copper for delivery in three months rose 0.5 per cent to USD 5,676 a metric tonne on the London Metal Exchange.

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First Published: Feb 18 2015 | 6:15 PM IST

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