Copper up 0.75% on global cues

Growth in China's manufacturing boosts demand for metals

Tracking a firm global trend, copper prices moved up by Rs 3.15 to Rs 422.85 per kg in futures trade today as speculators created fresh positions.

At the Multi Commodity Exchange, copper for delivery in November rose by Rs 3.15, or 0.75%, to Rs 422.85 per kg, with a business turnover of 22,309 lots.

February copper moved up by Rs 3, or 0.70%, to Rs 428.95 per kg, with a business turnover of 1,060 lots.

Marketmen attributed the rise in copper futures to a firm global trend as China's manufacturing expanded for the first time in three months in October, boosting demand for metals.

 

Meanwhile, copper for delivery in three months gained 0.3% to $7,785 a tonne on the London Metal Exchange.