NEW DELHI, Nov 11: Taking positive cues from the overseas markets and a pick-up in spot demand, copper futures prices today rose by 0.35 per cent to Rs 469.60 per kg.
At the Multi Commodity Exchange, copper for delivery in February next year rose Rs 1.65, or 0.35 per cent, to Rs 469.60 per kg, to Rs 469.50 per kg, with a turnover of 201 lots.
Similarly, the metal for delivery in November was up by Rs 1.25, or 0.27 per cent, at Rs 458.25 per kg, with a trade volume of 2,889 lots.
Globally, copper for three-month delivery up by 0.6 per cent to USD 7,206.75 a tonne on the London Metal Exchange (LME), while at Shanghai Futures Exchange, January next year’s contract rose 0.50 per cent to 51,700 yuan USD 8,464 per tonne.
Market analysts attributed the rise in copper in futures trade to a firming trend on the LME on better-than-estimated Chinese and US economic data bolstered the demand outlook in the world’s two biggest users of the metal. (PTI)
Follow our WhatsApp channel