Copper up 0.3% on rising demand
Market analysts said fresh positions created by participants supported by rising demand in the spot markets, influenced the prices
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Supported by rising demand in the domestic spot markets, copper futures rose by 0.32% to Rs 411.15 per kg today.
However, metal's weakness at the London Metal Exchange (LME) restricted the rise.
At the Multi Commodity Exchange, copper for delivery in June rose by Rs 1.30, or 0.32%, to Rs 411.15 per kg, with a turnover of 292 lots.
Similarly, the metal for delivery in August was up by Rs 1.25, or 0.30%, at Rs 414.55 per kg, with a trade volume of four lots.
Globally, copper for delivery in three months fell 0.3% to USD 6,701.25 per tonne on the LME, while in Shanghai, futures for delivery in August dropped 0.4% to 47,150 yuan ($7,549) per tonne.
Market analysts said fresh positions created by participants supported by rising demand in the spot markets, influenced copper prices at futures trade.
However, metal's weakness at the London Metal Exchange (LME) restricted the rise.
At the Multi Commodity Exchange, copper for delivery in June rose by Rs 1.30, or 0.32%, to Rs 411.15 per kg, with a turnover of 292 lots.
Similarly, the metal for delivery in August was up by Rs 1.25, or 0.30%, at Rs 414.55 per kg, with a trade volume of four lots.
Globally, copper for delivery in three months fell 0.3% to USD 6,701.25 per tonne on the LME, while in Shanghai, futures for delivery in August dropped 0.4% to 47,150 yuan ($7,549) per tonne.
Market analysts said fresh positions created by participants supported by rising demand in the spot markets, influenced copper prices at futures trade.
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First Published: May 06 2014 | 11:18 AM IST