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Copper up 0.4% on global cues

Metal for delivery in August was up by 0.45%

Press Trust of India New Delhi
Copper futures rose 0.48% to Rs 412.15 per kg today on positive cues from global markets and rising domestic spot demand.

At the Multi Commodity Exchange, copper for delivery in June rose by Rs 1.95, or 0.48%, to Rs 412.15 per kg, with a turnover of 677 lots.

Similarly, the metal for delivery in August was up by Rs 1.85, or 0.45%, at Rs 414.45 per kg, with a trade volume of 22 lots.

Globally, copper for delivery in three months rose 0.5% to $6,892 per tonne at the London Metal Exchange, while in Shanghai, futures for delivery in August climbed 0.6% to 48,510 yuan ($7,778) per tonne.
 

Market analysts said fresh positions created by participants, tracking a firming trend at the LME and rising demand in the spot markets, influenced copper prices at futures trade.

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First Published: May 19 2014 | 1:00 PM IST

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