ET:Copper futures rise on global cues, spot demand
NEW DELHI: Taking positive cues from the global markets and rising spot demand, copper prices rose by 0.24 per cent to Rs 426.25 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in April traded higher by Re 1, or 0.24 per cent, to Rs 426.25 per kg in business turnover of 2,129 lots.
Similarly, the metal for delivery in June edged up by 90 paise, or 0.21 per cent, to Rs 431.90 per kg in 107 lots.
Market analysts said a firming trend at the London Metal Exchange as better-than-expected US jobs data and China's fixed-asset investment helped boost demand from the two largest consumers, supported the upside in copper prices at futures trade.
Besides, pick up in domestic spot demand also influenced metal prices, they said
Meanwhile, copper for delivery in three months increased 0.4 per cent to $ 7,768 a tonne on the London Metal Exchange.
