ET:Copper remains up in futures trade on global cues
NEW DELHI: Copper prices today rose by 0.24 per cent, to Rs 424.10 per kg in futures trade as speculators indulged in enlarging their positions amid a firming trend at the London Metal Exchange (LME).
At the Multi Commodity Exchange, copper for delivery in August rose by Re 1, or 0.24 per cent, to Rs 424.10 per kg, with a turnover of 12,013 lots.
Similarly, the metal for delivery in November gained 95 paise, or 0.23 per cent, to Rs 428.65 per kg, with a business turnover of 635 lots.
Globally, copper for three-month delivery rose by 1.20 per cent to USD 7,684.75 per tonne at the LME.
Marketmen attributed the rise in copper futures trade to a firming trend in global markets on US stimulus speculation and a pickup in domestic demand.
