Copper gains in futures trade, up 0.15% on global cues

Buoyed by firming trend overseas, copper extended its gains and traded Rs 0.55, or 0.15 per cent, higher to Rs 358.30 per kg in futures trading today.

At the Multi Commodity Exchange counter, the November contract traded higher by Rs 0.50, or 0.15 per cent, at Rs 358.30 per kg, with a business volume of 38,802 lots.

The contract for delivery in February also gained Rs 0.50, or 0.14 per cent, to Rs 360.20 per kg, with a turnover of 1,747 lots.

Analysts said firming trend at the London Metal Exchange, where the metal surged to a four-month high after the US manufacturing grew faster than estimated, influenced the copper prices in futures trade here.

 

They said increased demand at the domestic markets also supported the upside in copper.

Meanwhile copper for three-month delivery rose 0.20 per cent to $7,618 per tonne, almost four-month high.