NEW DELHI, Sept 17: Copper prices rose by 0.22 per cent to Rs 458.25 per kg in futures trade today as speculators created fresh positions tracking a firm global trend.
At the Multi Commodity Exchange, copper for delivery in November was up Re one or 0.22 per cent, to Rs 458.25 per kg in business turnover of 1,258 lots.
Similarly, the metal for delivery in February was up by 70 paise, or 0.15 per cent, to Rs 467.50 per kg in 107 lots.
Market analysts attributed the rise in copper futures to a firm global trend on speculation that policy makers will take a more gradual approach to taper stimulus after former Treasury Secretary Lawrence Summers withdrew his bid to head the Federal Reserve.
Besides, fall in stockpiles tracked by the London Metal Exchange (LME) which dropped to 574,675 tonnes also supported the upside, they said.
Meanwhile, copper for delivery in three months rose 0.6 per cent to USD 7,085 a tonne at the LME. PTI SUN RS KPS PVI STSCopper futures surge 0.22 pc on global cues
New Delhi, Sep 17 (PTI) Copper prices rose by 0.22 per cent to Rs 458.25 per kg in futures trade today as speculators created fresh positions tracking a firm global trend.
At the Multi Commodity Exchange, copper for delivery in November was up Re one or 0.22 per cent, to Rs 458.25 per kg in business turnover of 1,258 lots.
Similarly, the metal for delivery in February was up by 70 paise, or 0.15 per cent, to Rs 467.50 per kg in 107 lots.
Market analysts attributed the rise in copper futures to a firm global trend on speculation that policy makers will take a more gradual approach to taper stimulus after former Treasury Secretary Lawrence Summers withdrew his bid to head the Federal Reserve.
Besides, fall in stockpiles tracked by the London Metal Exchange (LME) which dropped to 574,675 tonnes also supported the upside, they said.
Meanwhile, copper for delivery in three months rose 0.6 per cent to USD 7,085 a tonne at the LME. (PTI)
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