Copper rises 0.44% on global cues

Firm overseas trend on positive China data boosts demand

Buoyed by a firming trend in global markets, copper futures prices rose by 0.44% to Rs 441.10 per kg today as speculators enlarged positions.

At the Multi Commodity Exchange, copper for delivery in November rose by Rs 1.95, or 0.44%, to Rs 441.10 per kg, with a business turnover of 5,147 lots.

February copper traded higher by Rs 1.90, or 0.43%, to Rs 446.40 per kg, with a business turnover of 514 lots.

Marketmen said a firming trend overseas after data showed China's industrial production, retail sales and fixed-asset investment accelerated in September, boosted demand outlook and influenced copper prices at futures trade here.

 

Pick up in demand at domestic spot markets also had a positive impact, they said.

Meanwhile, copper for the metal for delivery in three months climbed 0.5% to $8,260 per tonne on the London Metal Exchange.