Copper up 0.3% on global cues

Analysts attributed the rise in copper trade to a firming trend at the LME

Supported by a rebound in overseas markets, copper futures prices today rose by 0.33% to Rs 424.10 per kg.

At the Multi Commodity Exchange, the April delivery rose by Rs 2, or 0.33%, to Rs 424.10 per kg, with a business turnover of 3,103 lots.

The June delivery was up by Rs 1.35, or 0.32%, at Rs 428.90 per kg, with a trading volume of 539 lots.

Globally, copper for three-month delivery rose by 0.7% to $8,100 a tonne at the London Metal Exchange (LME), while on the Shanghai Futures exchange, the metal gained 0.6% to 57,690 yuan ($9,141) per tonne.

 

Analysts attributed the rise in copper futures trade to a firming trend at the LME, after exchange data showed a jump in orders to remove metal from its warehouses and sustained high cash premiums.