Copper rises marginally on spot demand

Weak overseas trend limits gains

Image
Press Trust of India New Delhi
Last Updated : Jan 24 2013 | 2:10 AM IST

Copper prices rose marginally by 0.17% to Rs 453.15 per kg in futures trading today, mostly supported by a firm spot demand.

However, a weak trend in metal at the London Metal Exchange (LME) restricted the gains.

At the Multi Commodity Exchange, copper for delivery in November rose by 75 paise, or 0.17%, to Rs 453.15 per kg, with a business turnover of 16,327 lots.

February copper traded higher by 80 paise, or 0.17%, to Rs 458.05 per kg, with a business turnover of 939 lots.

Marketmen said fresh positions created by speculators supported by a pick up in spot demand influenced copper prices at futures trade but weakness in metal at the LME limited the gains.

Meanwhile, copper fell 0.5% to $8,054.50 a tonne on the London Metal Exchange.

*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

More From This Section

First Published: Sep 13 2012 | 3:08 PM IST

Next Story