Copper up by 0.1% on global cues

A firming trend in metals in the global market influenced copper prices

Copper prices rose marginally by 0.11% to Rs 442.75 per kg in futures trade today as speculators enlarged positions on firming trend overseas.

 

At the Multi Commodity Exchange, copper for delivery in August edged up by 50 paise, or 0.11%, to Rs 442.75 per kg in business turnover of 2,897 lots.

 

The metal for delivery in September traded higher by 25 paise, or 0.06%, to Rs 450.35 per kg in 263 lots.

 

Analysts attributed the rise in copper futures to a firming trend in metals in the global market as a jump in industrial output added to signs of economic optimism in China, the biggest user.

 

 

Meanwhile, copper rose 1.3% to $7,275 a tonne on the London Metal Exchange, while metal for delivery in November rose 0.8% to 51,950 yuan ($8,486) a tonne on the Shanghai Futures Exchange.