 "Copper rise by 0.7% on positive global cues")
Copper futures rose by 0.69% to Rs 364.95 per kg today as speculators created fresh positions amid positive cues from overseas markets and pick-up in spot demand.
At the Multi Commodity Exchange, copper for delivery in April was trading higher by Rs 2.50, or 0.69%, to Rs 364.95 per kg, with a turnover of 109 lots.
Similarly, the metal for delivery in February was up by Rs 2.25, or 0.63%, at Rs 360.05 per kg, with a trade volume of 2,391 lots.
Market analysts attributed the rise in copper futures to a firming trend on the LME before credit data is released by China, the largest consumer of metals.
Besides, pick-up on spot demand supported the upside, they added.
At the Multi Commodity Exchange, copper for delivery in April was trading higher by Rs 2.50, or 0.69%, to Rs 364.95 per kg, with a turnover of 109 lots.
Similarly, the metal for delivery in February was up by Rs 2.25, or 0.63%, at Rs 360.05 per kg, with a trade volume of 2,391 lots.
Also Read
Globally, copper for three-month delivery traded higher at $5,738 a tonne on the London Metal Exchange (LME), while in Shanghai, the contract for delivery in April gained 1.8% to 41,850 yuan ($6,704) per tonne.
Market analysts attributed the rise in copper futures to a firming trend on the LME before credit data is released by China, the largest consumer of metals.
Besides, pick-up on spot demand supported the upside, they added.
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%