Copper marginally up in futures trade on overseas trend

Copper traded Re 1 higher or 0.31 per cent at Rs 326.55 per kg today in tandem with a firming trend at global markets.

Pick up in demand for the metal at physical markets also supported the upside in the copper prices at futures market here.

On the Multi Commodity Exchange platform, copper for delivery in far-month November contract traded Re one, or 0.31 per cent higher at Rs 326.55 per kg, with an open interest of 100 lots.

The metal for delivery in June contract also recovered by Rs 0.70, or 0.22 per cent to Rs 322.85 per kg, with an open interest of 23,527 lots.

 

Market analysts said firming trend at Shanghai after gains at the London Metal Exchange, influenced copper prices at futures market here.
    
Meanwhile, at Shanghai, copper rose 1,120 yuan, or 2.09 per cent to 54,790 yuan per tonne in the morning trade today, while at the London Metal Exchange it rose $1, or 0.01 per cent to $6,846 per tonne.