ET:Copper futures up on firm global cues, spot demand
NEW DELHI: Tracking a firm global trend, copper futures prices today, rose marginally by 0.20 per cent to Rs 448.30 per kg as speculators created fresh positions.
Besides, rising demand at spot markets also influenced metal prices.
Analysts said the rise in copper prices at futures trade was largely on a firming trend at the London Metal Exchange (LME), after data showed China's imports and exports in December exceeded estimates, indicating demand by the largest user may recover as the growth accelerate.
At the Multi Commodity Exchange, copper for delivery in February traded higher by 90 paise, or 0.20 per cent, to Rs 448.30 per kg in business turnover of 8,137 lots.
The metal's prices for delivery in April edged up by a similar margin to Rs 452.60 per kg in a turnover of 638 lots.
Meanwhile, copper for delivery in three months climbed 0.20 per cent to trade at USD 8,096 a tonne at the LME, while on the Shanghai Futures Exchange, the metal for April delivery gained 0.2 per cent to 58,440 yuan (USD 9,380) per tonne.
