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Global cues, spot demand lift copper futures by 0.86%

Press Trust of India  |  New Delhi 

prices rose 0.86 per cent

to Rs 416.95 per kg in futures trade Wednesday as speculators built positions amid positive global cues and pick up in spot demand here.

At the Multi Commodity Exchange, for delivery in February rose Rs 3.55, or 0.86 per cent, to Rs 416.95 per kg in a business turnover of 3,687 lots.

Analysts attributed the rise in prices to a firm global trend where the metals strengthened, buoyed by a report that top metals consumer would try to boost spending on autos and home appliances this year, as well as signs of progress in Sino-US trade talks.

Globally, three-month on the (LME) rose 0.9 per cent to USD 5,959.50 per tonne.

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

First Published: Wed, January 09 2019. 11:15 IST
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