Copper Futures Rise on Global Cues, Spot Demand

At the Multi Commodity Exchange, copper for delivery in November traded higher by 65 paise, or 0.18 per cent, at Rs 363.50 per kg in a business turnover of 19 lots.

Published: 16th July 2015 12:24 PM  |   Last Updated: 16th July 2015 12:24 PM   |  A+A-

By PTI

NEW DELHI: Copper futures traded a shade higher at Rs 363.50 per kg today as speculators widened positions amid firm global trend and higher domestic demand.

At the Multi Commodity Exchange, copper for delivery in November traded higher by 65 paise, or 0.18 per cent, at Rs 363.50 per kg in a business turnover of 19 lots.

Similarly, the metal for delivery in August inched up 30 paise, or 0.08 per cent, to Rs 356.65 per kg in 939 lots. Market analysts said besides increased demand at the domestic spot markets from consuming industries, a firming trend in select base metals at the London Metal Exchange (LME) influenced copper prices.

Meanwhile, copper for delivery in three months added 0.3 per cent at USD 5,550 per tonne at LME, snapping two days of losses.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp