Copper up by 0.9% 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 0.86% today to Rs 355.85 per kg.
At the Multi Commodity Exchange, copper for delivery in February was trading higher by Rs 3.05, or 0.86%, to Rs 355.85 per kg, with a turnover of 991 lots.
Similarly, the metal for delivery in far-month April contract was up by Rs 2.95, or 0.83%, at Rs 360.25 per kg, with a trade volume of 23 lots.
Globally, copper for three-month delivery climbed as much as or 1%, to $5,730 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 after better-than-forecast economic growth in China, the world's largest consumer.
Gross domestic product rose 7.4% in 2014 from a year earlier, the statistics bureau said in Beijing, beating the 7.3% estimated in a survey.
Besides, pick-up on spot demand also supported the upside, they said.
At the Multi Commodity Exchange, copper for delivery in February was trading higher by Rs 3.05, or 0.86%, to Rs 355.85 per kg, with a turnover of 991 lots.
Similarly, the metal for delivery in far-month April contract was up by Rs 2.95, or 0.83%, at Rs 360.25 per kg, with a trade volume of 23 lots.
Globally, copper for three-month delivery climbed as much as or 1%, to $5,730 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 after better-than-forecast economic growth in China, the world's largest consumer.
Gross domestic product rose 7.4% in 2014 from a year earlier, the statistics bureau said in Beijing, beating the 7.3% estimated in a survey.
Besides, pick-up on spot demand also supported the upside, they said.
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First Published: Jan 20 2015 | 10:40 AM IST