Copper futures spurt on global cues, spot demand

Image
Press Trust of India New Delhi
Last Updated : Jul 28 2015 | 11:42 AM IST
Buoyed by positive global cues and increased domestic demand, copper prices rose 0.31 per cent to Rs 344 per kg in futures trade today.
At Multi Commodity Exchange, copper for delivery in far-month November was trading higher by Rs 1.05, or 0.31 per cent, to Rs 344 per kg in a business turnover of 29 lots.
Similarly, the metal for delivery in August was up by 90 paise, or 0.27 per cent, at Rs 337.05 per kg in 700 lots.
Analysts said a firming trend in copper at the London Metal Exchange (LME) where it rallied from its lowest level since 2009 as China's government said it will continue to stabilize the stock market after shares slumped the most since 2007 on Monday,influenced metal prices at futures trade here.
Furthermore, pick-up in industrial demand at domestic spot market supported the upside, they said.
Globally, copper for delivery in three months gained 0.7 per cent to USD 5,225.50 per tonne at the LME .
*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: Jul 28 2015 | 11:42 AM IST

Next Story