Business Standard

Copper rises by 0.3% on global cues

Speculators created fresh positions in tandem with a firming global trend

Press Trust of India New Delhi
Copper prices moved up by 0.26% to Rs 428.50 per kg in futures trade today as speculators created fresh positions in tandem with a firming global trend.

At the Multi Commodity Exchange, copper for delivery in far-month November contracts traded higher by Rs 1.10, or 0.26%, to Rs 428.50 per kg in a business turnover of 535 lots.

Analysts attributed the rise in copper futures to a firm global trend as worse-than-expected manufacturing data in China and the euro area raised speculation of more economic stimulus.

Meanwhile, copper for delivery in three months added 0.3% to $6,960.25 a tonne on the London Metal Exchange, while in Shanghahi, October delivery gained 0.60% to 49,930 yuan ($8,127) per tonne.

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First Published: Sep 02 2014 | 11:11 AM IST

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