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.

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.