 "Copper up 0.2% on global cues")
Copper prices moved up by 0.25% to Rs 416.20 per kg in futures trade today as speculators created fresh positions on firm global cues.
At the Multi Commodity Exchange, copper for delivery in June traded higher by Rs 1.05, or 0.25%, to Rs 416.20 per kg in a turnover of 254 lots.
Likewise, the metal for delivery in August edged up by 80 paise, or 0.19%, to Rs 418.10 per kg in 6 lots.
Globally, copper for delivery in three months rose 0.10% to USD 6,934 per tonne at the London Metal Exchange (LME).
Meanwhile, inventories tracked by the LME fell 52% this year and last week reached the lowest since September 2008.
At the Multi Commodity Exchange, copper for delivery in June traded higher by Rs 1.05, or 0.25%, to Rs 416.20 per kg in a turnover of 254 lots.
Likewise, the metal for delivery in August edged up by 80 paise, or 0.19%, to Rs 418.10 per kg in 6 lots.
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Analysts attributed the rise in copper futures to a firm global trend where it rose to over 11-week high on speculation that the government will move to stoke the economy in China, the world's biggest metals consumer amid falling inventories.
Globally, copper for delivery in three months rose 0.10% to USD 6,934 per tonne at the London Metal Exchange (LME).
Meanwhile, inventories tracked by the LME fell 52% this year and last week reached the lowest since September 2008.
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