ET:Copper futures rise 0.53% on global cues, spot demand
NEW DELHI: Tracking a firming global trend, copper prices rose by 0.53 per cent to Rs 447.05 per kg in futures trade today as speculators enlarged positions.
Besides, increased demand from consuming industries supported the uptrend.
At the Multi Commodity Exchange, copper for delivery in February rose by Rs 2.35, or 0.53 per cent, to Rs 447.05 per kg in business turnover of 1,804 lots.
Similarly, the metal for delivery in April traded higher by Rs 2.20, or 0.49 per cent, to Rs 452.10 per kg in 71 lots.
Analysts attributed the rise in copper futures to a firm global trend after stockpiles declined and rising demand from consuming industries.
Meanwhile, copper for delivery in three months climbed 0.2 per cent to $7,155 per metric tonne on the London Metal Exchange.
