ET:Copper futures rise 0.62 pc on spot demand, global cues
NEW DELHI: Copper prices rose 0.62 per cent to Rs 447 per kg in futures trade today as speculators enlarged their positions on the back of increased demand from consuming industries in the spot market amid a firm global trend.
At the Multi Commodity Exchange, Copper for delivery in February rose Rs 2.75, or 0.62 per cent, to Rs 447 per kg in business turnover of 1,579 lots.
Likewise, the metal for delivery in April gained Rs 2.45, or 0.55 per cent, to Rs 451.85 per kg in 66 lots.
Analysts attributed the rise in copper futures to increased demand from consuming industries and a firm global trend as stockpiles declined and the biggest user China returned from Lunar New Year holidays.
Meanwhile, copper for delivery in three months climbed 0.2 per cent to $7,143 a tonne at the London Metal Exchange.
