Copper rises on global cues, spot demand
April copper traded higher by Rs 1.65, or 0.37%, at Rs 451.30 per kg
Buoyed by a firm global trend and pick-up in domestic demand, copper traded higher by 0.37% at Rs 447.50 per kg in futures trade today.
At the Multi Commodity Exchange, April copper traded higher by Rs 1.65, or 0.37%, at Rs 451.30 per kg, with a business turnover of 250 lots.
Marketmen said a firm global trend on speculation that China's plan to seek growth of higher quality and efficient next year will bolster demand for industrial metals in the largest consumer influenced copper prices at futures trade here.
Besides, increased demand at domestic spot markets from consuming industries also supported the upside, they said.
The metal for delivery in far-month February edged up by Rs 1.60, or 0.36%, to Rs 446.90 per kg, with a business turnover of 4,032 lots.
Meanwhile, copper for delivery in three months gained 0.4% to trade at $8,099.25 a tonne on the London Metal Exchange.