Copper rises by 0.4% on spot demand
Speculators enlarged positions amid a firming trend at spot markets on industrial demand
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Copper futures prices rose 0.36% to Rs 470.25 per kg today as speculators enlarged positions amid a firming trend at spot markets on industrial demand even as metal weakened overseas.
At the Multi Commodity Exchange, copper for delivery in February rose by Rs 1.70, or 0.36% to Rs 470.25 per kg, with a business turnover of 382 lots.
Similarly, the metal for delivery in far-month April moved up by Rs 1.70, or 0.36%, to Rs 475.10 per kg in 40 lots.
Marketmen said pick up in domestic demand mainly influenced copper prices at futures trade but metal's weakness in the global market, capped the gains.
Meanwhile, copper for delivery in 3 months traded fell 0.2% to trade at $7,360 a tonne on the London Metal Exchange (LME) in yesterday's trade.
Meanwnhile, the LME is shut today for New Year's Day holiday.
At the Multi Commodity Exchange, copper for delivery in February rose by Rs 1.70, or 0.36% to Rs 470.25 per kg, with a business turnover of 382 lots.
Similarly, the metal for delivery in far-month April moved up by Rs 1.70, or 0.36%, to Rs 475.10 per kg in 40 lots.
Marketmen said pick up in domestic demand mainly influenced copper prices at futures trade but metal's weakness in the global market, capped the gains.
Meanwhile, copper for delivery in 3 months traded fell 0.2% to trade at $7,360 a tonne on the London Metal Exchange (LME) in yesterday's trade.
Meanwnhile, the LME is shut today for New Year's Day holiday.
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First Published: Jan 01 2014 | 10:55 AM IST