 "Copper prices rise on global cues, spot demand")
Buoyed by a firm global trend and increased domestic demand, copper prices rose 0.91% to Rs 415.60 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in June traded higher by Rs 3.75, or 0.91% to Rs 415.60 per kg in business turnover of 5,774 lots.
Copper for delivery in August edged up by Rs 3.50, or 0.84% to Rs 420.70 per kg in 391 lots.
Market analysts said besides increased demand from consuming industries, a firming overseas trend, amid signs of stabilising growth in China, the world's biggest buyer and a fall in stockpiles, mainly influenced copper prices at futures trade here.
Meanwhile, copper stockpiles monitored by the LME fell to 608,450 tonnes on May 31, marking the first monthly decline since September.
At the Multi Commodity Exchange, copper for delivery in June traded higher by Rs 3.75, or 0.91% to Rs 415.60 per kg in business turnover of 5,774 lots.
Copper for delivery in August edged up by Rs 3.50, or 0.84% to Rs 420.70 per kg in 391 lots.
Also Read
Globally, copper for delivery in three months climbed 1% to $7,380 a tonne on the London Metal Exchange. At Shanghai Futures Exchange, the metal for September delivery rose 0.6% to 53,020 yuan ($8,643) a tonne.
Market analysts said besides increased demand from consuming industries, a firming overseas trend, amid signs of stabilising growth in China, the world's biggest buyer and a fall in stockpiles, mainly influenced copper prices at futures trade here.
Meanwhile, copper stockpiles monitored by the LME fell to 608,450 tonnes on May 31, marking the first monthly decline since September.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%