Copper extends gains in futures trade on global cues
At the Multi Commodity Exchange, copper for delivery in August gained Rs 3.90, or 0.65 per cent, to Rs 450.10 per kg in business turnover of 1,962 lots.
By PTI |
NEW DELHI: Continuing its rising streak, copper prices rose further by 0.65 per cent to Rs 450.10 per kg in futures trade today as speculators indulged in enlarging positions, driven by a firming trend in the global market.
At the Multi Commodity Exchange, copper for delivery in August gained Rs 3.90, or 0.65 per cent, to Rs 450.10 per kg in business turnover of 1,962 lots.
The metal for delivery in November traded higher by RS 2.35, or 0.52 per cent, to Rs 457 per kg in 170 lots.
Analysts attributed persistent rise in copper futures to a firming trend in metals in the global market after better-than-expected machine orders from Japan and before US and European data projected to show the world economy is improving.
Meanwhile, copper rose 0.3 per cent to USD 7,272 a tonne on the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in August gained Rs 3.90, or 0.65 per cent, to Rs 450.10 per kg in business turnover of 1,962 lots.
The metal for delivery in November traded higher by RS 2.35, or 0.52 per cent, to Rs 457 per kg in 170 lots.
Analysts attributed persistent rise in copper futures to a firming trend in metals in the global market after better-than-expected machine orders from Japan and before US and European data projected to show the world economy is improving.
Meanwhile, copper rose 0.3 per cent to USD 7,272 a tonne on the London Metal Exchange.
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