BS reported that Indian copper prices moved up by 0.40% to INR 410.10 per kilogram in futures trade as speculators created fresh positions on firm global cues.
At the Multi Commodity Exchange, copper for delivery in June traded higher by INR 1.75 or 0.40% to INR 410.10 per kilogram in business turnover of 3,868 lots. Likewise, copper for delivery in far month August edged up by INR 1.45 or 0.35% to INR 415.35 per kilogram in 201 lots.
Analysts attributed the rise in copper futures to a firm global trend after better than expected US retail sales and jobs data boosted the outlook for demand amid concern supply may be curbed from Freeport McMoRan Copper & Gold Inc's mine in Indonesia. Meanwhile, copper climbed 1.3% to USD 7,141.75 per tonne on the London Metal Exchange.
