Business Standard

Copper futures gain 0.16 pc on global cues

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Press Trust of India New Delhi
Copper prices went up by 0.16 per cent to Rs 458.45 per kg in futures market today as speculators built up fresh positions, tracking a firm trend overseas.

At the Multi Commodity Exchange, copper for delivery in February rose by 75 paise, or 0.16 per cent, to Rs 458.45 per kg in a business turnover of 934 lots.

On similar lines, the metal for delivery in April was trading higher by 55 paise, or 0.12 per cent, to Rs 463.65 per kg in 186 lots.

Analysts attributed the rise in copper futures to a firm trend overseas where the metal inched up, lifted in light trade by a weaker dollar ahead of Federal Reserve Chairman Jerome Powell's highly-anticipated first congressional testimony later in the day.

Meanwhile, copper for delivery in three months edged up 0.3 per cent to USD 7,131.50 a tonne on the London Metal Exchange.

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First Published: Feb 27 2018 | 11:45 AM IST

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