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Copper futures rise 0.56 pc on overseas cues

Press Trust of India  |  New Delhi 

Copper prices went up by 0.56 per cent to Rs 422.50 per kg in futures trade today as speculators built up of fresh positions amid positive global cues.

Besides, uptick in demand from consuming industries at the domestic spot market fuelled the uptrend.

At the Multi Commodity Exchange, copper for delivery in August rose by Rs 2.35, or 0.56 per cent, to Rs 422.50 per kg in a business turnover of 1,200 lots.

Likewise, the for delivery in November gained Rs 2.25, or 0.53 per cent, to Rs 429.85 per kg in 13 lots.

Market analysts said fresh positions created by participants following a firm trend overseas mainly led to a rise in copper prices at futures trade.

Globally, copper for delivery in three-months increased 0.7 per cent to USD 6,189 per metric tonne on the London Exchange.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 12 2018. 10:50 IST