 "Copper rises by 0.8% on global cues")
Copper prices moved up by 0.83% to Rs 377.30 per kg in futures trade today as speculators created fresh positions on firm global cues.
Copper for delivery in April traded higher by Rs 3.10, or 0.83%, to Rs 377.30 per kg in a turnover of 917 lots at the Multi Commodity Exchange.
Likewise, the metal for delivery in far-month June edged up by Rs 2.85, or 0.75%, to Rs 381.90 per kg in 16 lots.
Further, pick-up in demand from consuming industries at domestic spot markets supported the upside, they said.
Globally, copper for delivery in three months rose 0.5% to $6,011 per tonne at the London Metal Exchange (LME).
The metal for delivery in June rose 0.3% to 43,420 yuan ($7,012) a tonne on the Shanghai Futures Exchange.
Copper for delivery in April traded higher by Rs 3.10, or 0.83%, to Rs 377.30 per kg in a turnover of 917 lots at the Multi Commodity Exchange.
Likewise, the metal for delivery in far-month June edged up by Rs 2.85, or 0.75%, to Rs 381.90 per kg in 16 lots.
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Analysts attributed the rise in copper futures to a firm global trend after the metal rebounded from a two-week low as trading in London resumed after Easter holidays.
Further, pick-up in demand from consuming industries at domestic spot markets supported the upside, they said.
Globally, copper for delivery in three months rose 0.5% to $6,011 per tonne at the London Metal Exchange (LME).
The metal for delivery in June rose 0.3% to 43,420 yuan ($7,012) a tonne on the Shanghai Futures Exchange.
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