Copper up 0.14% on global cues
Falling stocks and signs of US manufacturing gaining momentum outweigh concerns of demand slowdown in China
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Copper prices gained 0.14 per cent to Rs 467.70 per kg in futures trade today as speculators enlarged their positions on a firm global trend.
At the Multi Commodity Exchange, copper for delivery in February was up 65 paise, or 0.14 per cent, to Rs 467.70 per kg in a business turnover of 2,122 lots.
The April contract added 50 paise, or 0.11 per cent, to Rs 472.20 per kg in 77 lots.
Analysts attributed the rise in copper futures to a firm global trend as declining inventories and signs that US manufacturing is gaining momentum outweighed concern that demand will slow down in China, the biggest user.
Meanwhile, copper for delivery in three months rose 0.3 per cent to $7,344.75 a tonne on the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in February was up 65 paise, or 0.14 per cent, to Rs 467.70 per kg in a business turnover of 2,122 lots.
The April contract added 50 paise, or 0.11 per cent, to Rs 472.20 per kg in 77 lots.
Analysts attributed the rise in copper futures to a firm global trend as declining inventories and signs that US manufacturing is gaining momentum outweighed concern that demand will slow down in China, the biggest user.
Meanwhile, copper for delivery in three months rose 0.3 per cent to $7,344.75 a tonne on the London Metal Exchange.
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First Published: Jan 07 2014 | 11:53 AM IST