ET reported that Buoyed by a firming trend in global markets after exports by China, grew more than expected, copper futures prices rose by 0.09% to INR 427.60 per kilogram as speculators enlarged positions. Further, pick up in demand at spot markets also supported the upside. At the Multi Commodity Exchange, copper for delivery in far-month April up by 40 paise or 0.09% to INR 427.60 per kilogram with a business turnover of 3,596 lots. Similarly, the metal for delivery in June traded 30 paise or 0.07% higher, at INR 432.90 per kilogram with a business turnover of 162 lots. Marketmen said that the rise in copper futures was attributed to a firming trend overseas after exports by China, the top user of the industrial metal, grew more than expected adding to signs of the global economic recovery. Meanwhile, exports by China, the world's second biggest economy rose 21.8% last month from a year earlier beating the 8.1%. Globally, copper for the metal for delivery in three months climbed 0.2% to USD 7,783 per tonne at the London Metal Exchange, while at Shanghai Futures Exchange, the metal for delivery in June contracts advanced 0.5 per cent to CNY 56,800 per tonne.

Source