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PTI: Copper surge on firm global cues
 
Copper gained in futures trading today as metal prices softened globally amid weakening dollar.

A weak dollar makes the dollar-quoted base metal more expensive.

On the Multi Commodity Exchange, far-month April contract spurted 2.85 per cent to Rs 165.75 per kg. The contract recorded business turnover of 398 lots.

Similarly, February contract moved up 2.83 per cent to Rs 163.50 per kg, in a turnover of 3,973 lots.

Weaker dollar against the euro mainly sparked buying in copper and other commodities, marketmen said.

According to an analyst with Karvy Comtrade, the rise in copper prices was mainly supported by a weaker dollar and strong rally in the metal prices on the London Metal Exchange.

Meanwhile, copper on the LME rose 4.6 per cent at 3,335 dollar a tonne.

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