Copper futures up on positive global cues
Copper futures today rose by 50 paise to Rs 328.85 per kg on the back of pick up in spot demand and positive cues from overseas markets.
By PTI | Updated:
NEW DELHI: Copper futures today rose by 50 paise to Rs 328.85 per kg on the back of pick up in spot demand and positive cues from overseas markets.
At the Multi Commodity Exchange, copper for delivery in August was trading higher 50 paise to Rs 328.85 per kg with a turnover of 1,402 lots.
Similarly, the metal for delivery in far-month November was up 45 paise to Rs 335.05 per kg with a trade volume of 20 lots.
Globally, copper for three-month delivery added as much as 0.5 per cent to USD 5,018 a tonne on the London Metal Exchange (LME).
Analysts attributed the rise in copper at futures trade to a firming trend on the LME where it snapped a five-day decline as weaker-than-expected inflation figures from the US trimmed bets on a September interest rate increase and the dollar weakened.
Besides, pick-up in spot demand at domestic markets supported the upside, they said.
At the Multi Commodity Exchange, copper for delivery in August was trading higher 50 paise to Rs 328.85 per kg with a turnover of 1,402 lots.
Similarly, the metal for delivery in far-month November was up 45 paise to Rs 335.05 per kg with a trade volume of 20 lots.
Globally, copper for three-month delivery added as much as 0.5 per cent to USD 5,018 a tonne on the London Metal Exchange (LME).
Analysts attributed the rise in copper at futures trade to a firming trend on the LME where it snapped a five-day decline as weaker-than-expected inflation figures from the US trimmed bets on a September interest rate increase and the dollar weakened.
Besides, pick-up in spot demand at domestic markets supported the upside, they said.
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