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Copper futures up 0.32 pc on spot demand, global cues

Press Trust of India  |  New Delhi 

Copper futures traded 0.32 per cent higher at Rs 364.35 today after participants widened their positions on the back of pick-up in domestic demand amid a firm trend in base metals overseas.

At Multi Commodity Exchange, copper for delivery in August rose Rs 1.15, or 0.32 per cent, at Rs 364.75 per kg, in a business turnover of 4 lots.

Similarly, the metal for delivery in June was trading up by 95 paise, or 0.26 per cent, at Rs 360.75 per kg in 443 lots.

Analysts attributed the rise in copper futures to firm demand at the domestic spot markets and strength metal at the Metal Exchange (LME) despite weak industrial output data from

Reports showed that China's factory output rose 6.5 per cent in April from a year earlier, while fixed-asset investment grew 8.9 per cent in the first four months of the year, both worse than expectations.

At the LME, copper for delivery in three months was up 0.3 per cent at USD 5,578 per tonne.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 15 2017. 11:57 IST