Copper up 0.17% on firm global cues

Better-than-expected retail sales in US, sustained consumption in China influence prices

Buoyed by a firming trend in global markets, copper prices recovered by 0.17%, to Rs 435.30 per kg in futures trading today as speculators created fresh position.

At the Multi Commodity Exchange, copper for delivery in November traded 75 paise, or 0.17%, higher at Rs 435.30 per kg, with a business turnover of 2,285 lots.

February copper rose by a similar margin to Rs 441 per kg in a turnover of 160 lots.

Market analysts said a firming trend overseas as the US reported better-than-expected retail sales, reports that consumption in China is sustained, boosted the demand, influencing copper futures prices here.

 

Meanwhile, copper for delivery in three-months climbed 0.8% to $8,155.25 per tonne on the London Metal Exchange.