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Spot demand lifts copper futures by 0.31%

Press Trust of India  |  New Delhi 

Copper prices rose 0.31 per cent to Rs 455.15 per kg in futures trade today as speculators widened fresh positions amid positive global cues and pick up in spot demand at the domestic markets.

At the Multi Commodity Exchange, copper for delivery in February rose Rs 1.40, or 0.31 per cent, to Rs 455.15 per kg in a business turnover of 385 lots.

Similarly, the for delivery in April contracts traded higher by Re 1, or 0.22 per cent, to Rs 459 per kg in one lot.

Analysts attributed the rise in prices to a firm global trend where copper led the base metals pack higher as US reiterated plans to spend big on infrastructure amid weakness in the dollar.

Globally, copper for delivery in three months climbed 0.5 per cent to USD 7,160 per tonne in the Exchange after closing almost unchanged in the previous session.

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

First Published: Wed, January 10 2018. 11:05 IST
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