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ET:Copper moves up in futures trade on global cues
 
NEW DELHI: Amid firm global trend and pick up in domestic demand, copper prices moved up by 0.21 per cent to Rs 422.90 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in November moved up by 90 paise, or 0.21 per cent, to Rs 422.70 per kg, with a business turnover of 5,016 lots.

Similarly, the metal for delivery in February edged up by 85 paise, or 0.20 per cent, to Rs 428.85 per kg, with a business turnover of 546 lots.

Marketmen said besides pick up in demand from consuming industries in the spot market, a firm global trend influenced copper prices at futures trade here.

A strong trend was seen overseas after US President Barack Obama expressed confidence in a budget agreement with Congress and data showed home prices in China -- the biggest consumer of the metal -- climbed in more cities in October than the previous month.

Meanwhile, copper for delivery in three-month rose by 1.1 per cent to $ 7,689 a tonne on the London Metal Exchange.
Source