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Copper futures gain 0.63% on global cues, spot demand

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Press Trust of India New Delhi
Tracking a firm trend overseas, copper prices were higher by 0.63 per cent to Rs 334.85 per kg in futures trade today as speculators built up fresh positions.

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

At the Multi Commodity Exchange, copper for delivery in far-month November rose by Rs 2.10, or 0.63 per cent to Rs 334.85 per kg in business turnover of 178 lots.

Likewise, the metal for delivery in August contracts traded higher by Rs 1.95, or 0.60 per cent to Rs 328.05 per kg in 14,069 lots.

Analysts said besides, firm trend overseas, pick up in demand from consuming industries in the spot market mainly led to rise in copper prices at futures trade.
 

Meanwhile, copper for three-month delivery 0.8 per cent on the London Metal Exchange.

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First Published: Jul 28 2016 | 6:13 PM IST

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