Copper up 0.1% on global cues, spot demand
Increased demand from consuming industries, firming overseas trend influenced copper prices
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Buoyed by a firm global trend and increased domestic demand, copper prices rose by 0.12% to Rs 453.70 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in November gained 55 paise, or 0.12%, to Rs 453.70 per kg in business turnover of 454 lots.
Similarly, the metal for delivery in February, 2014, edged up by 45 paise, or 0.10%, to Rs 463.60 per kg in a turnover of 18 lots.
Marketmen said apart from increased demand from consuming industries, a firming overseas trend after imports of refined metal into China reached a 19-month high, indicating continued demand in the world's biggest consumer, influenced copper prices at futures trade.
Meanwhile, copper for delivery in three months added 0.2% to $7,256 per tonne on the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in November gained 55 paise, or 0.12%, to Rs 453.70 per kg in business turnover of 454 lots.
Similarly, the metal for delivery in February, 2014, edged up by 45 paise, or 0.10%, to Rs 463.60 per kg in a turnover of 18 lots.
Marketmen said apart from increased demand from consuming industries, a firming overseas trend after imports of refined metal into China reached a 19-month high, indicating continued demand in the world's biggest consumer, influenced copper prices at futures trade.
Meanwhile, copper for delivery in three months added 0.2% to $7,256 per tonne on the London Metal Exchange.
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First Published: Oct 22 2013 | 12:27 PM IST