You are here: Home » Markets » Commodities » Industrial Metals
Business Standard

Copper rises 1.34% on bullish trend

Press Trust of India  |  New Delhi 

Copper traded higher by Rs 4.05 or 1.34 per cent to Rs 306.50 per kg in futures trade today after speculators enlarged their positions, supported by firming trend overseas. Rise in demand in physical also supported the upside in copper futures prices.

At the Multi Commodity Exchange platform, copper for delivery in  June contract gained Rs 4.05, or 1.34 per cent to Rs 306.50 per kg, with an open interest of 29,195 lots. It ended 0.40 per cent lower at Rs 302.45 per kg in the previous session.

The metal for delivery in far-month August contract also traded higher by Rs 3.45, or 1.13 per cent to Rs 309.40 per kg, in an open interest of 7,910

Analysts said positive sentiment in global on speculation of Federal Reserve prolonging interest rates near zero to aid the recovery in the US economy, influenced copper prices in futures trade here.

Meanwhile, three-month copper traded 2.6 per cent higher at $6,694 per tonne at the London Metal Exchange.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, June 24 2010. 12:33 IST
RECOMMENDED FOR YOU
.