Copper up 0.5% on positive global cues
Pick-up on spot demand also supported the upside
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Taking positive cues from overseas markets and a pick-up in spot demand, copper futures rose by 0.46% today to Rs 400.25 per kg.
At the Multi Commodity Exchange, copper for delivery in April was trading higher by Rs 1.85, or 0.46%, to Rs 400.25 per kg, with a turnover of 1,113 lots.
Similarly, the metal for delivery in far-month July was up by Rs 1.80, or 0.45%, at Rs 404.25 per kg, with a trade volume of 62 lots.
Globally, copper for three-month delivery added 0.30% to $6,494.25 a tonne on the London Metal Exchange (LME).
Market analysts attributed the rise in copper in futures trade to a firming trend on the LME on speculation that China would take measures to bolster growth amid concern that supplies from a mine in Chile will be disrupted after protests by contract workers turned violent.
Besides, pick-up on spot demand also supported the upside, they said.
At the Multi Commodity Exchange, copper for delivery in April was trading higher by Rs 1.85, or 0.46%, to Rs 400.25 per kg, with a turnover of 1,113 lots.
Similarly, the metal for delivery in far-month July was up by Rs 1.80, or 0.45%, at Rs 404.25 per kg, with a trade volume of 62 lots.
Globally, copper for three-month delivery added 0.30% to $6,494.25 a tonne on the London Metal Exchange (LME).
Market analysts attributed the rise in copper in futures trade to a firming trend on the LME on speculation that China would take measures to bolster growth amid concern that supplies from a mine in Chile will be disrupted after protests by contract workers turned violent.
Besides, pick-up on spot demand also supported the upside, they said.
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First Published: Mar 25 2014 | 11:11 AM IST