ET:Copper marginally up in futures trade on global cues
NEW DELHI: Copper prices rose marginally by 0.11 per cent to Rs 442.75 per kg in futures trade today as speculators enlarged positions on firming trend overseas.
At the Multi Commodity Exchange, copper for delivery in August edged up by 50 paise, or 0.11 per cent, to Rs 442.75 per kg in business turnover of 2,897 lots.
The metal for delivery in September traded higher by 25 paise, or 0.06 per cent, to Rs 450.35 per kg in 263 lots.
Analysts attributed the rise in copper futures to a firming trend in metals in the global market as a jump in industrial output added to signs of economic optimism in China, the biggest user.
Meanwhile, copper rose 1.3 per cent to USD 7,275 a tonne on the London Metal Exchange, while metal for delivery in November rose 0.8 per cent to 51,950 yuan (USD 8,486) a tonne on the Shanghai Futures Exchange.
