Copper rises by 0.4% on Asian cues
Pick-up in industrial demand at domestic spot market supported the upside in copper
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Buoyed by positive Asian cues and increased domestic demand, copper prices rose 0.42% to Rs 418.55 per kg in futures trade today.
At Multi Commodity Exchange, copper for delivery in far-month August traded higher by Rs 1.75, or 0.42%, to Rs 418.55 per kg in a business turnover of two lots.
Similarly, the metal for delivery in June was up by Rs 1.50, or 0.36%, at Rs 413.60 per kg in 655 lots.
Market analysts said a firming trend in metal in the Asian region and pick-up in industrial demand at domestic spot market supported the upside in copper futures here.
Globally, copper for delivery in July rose 0.2% to 46,110 yuan a tonne while copper was little changed at USD 6,420 per tonne at the London Metal Exchange (LME).
At Multi Commodity Exchange, copper for delivery in far-month August traded higher by Rs 1.75, or 0.42%, to Rs 418.55 per kg in a business turnover of two lots.
Similarly, the metal for delivery in June was up by Rs 1.50, or 0.36%, at Rs 413.60 per kg in 655 lots.
Market analysts said a firming trend in metal in the Asian region and pick-up in industrial demand at domestic spot market supported the upside in copper futures here.
Globally, copper for delivery in July rose 0.2% to 46,110 yuan a tonne while copper was little changed at USD 6,420 per tonne at the London Metal Exchange (LME).
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First Published: May 18 2015 | 11:22 AM IST