NEW DELHI, Feb 28: Tracking a firming trend overseas, copper futures prices rose by 0.14 per cent to Rs 443.70 per kg today as speculators enlarged positions.
Further, pick-up in demand at spot markets also supported the upside.
At the Multi Commodity Exchange, copper for delivery in February up by 60 paise, or 0.14 per cent, to Rs 443.70 per kg, with a business turnover of 108 lots.
Similarly, the metal for delivery in April traded 50 paise, or 0.11 per cent higher, at Rs 443.15 per kg, with a business turnover of 53 lots.
Marketmen said the rise in copper futures was attributed to a firming trend overseas on concern that mine supplies will decline from Indonesia and stockpiles continued shrinking.
Globally, copper for the metal for delivery in three months climbed 0.4 per cent to USD 7,049.25 per tonne at the London Metal Exchange, while at Shanghai Futures Exchange, the metal for delivery in May contracts advanced 0.3 per cent to 56,800 yuan (USD 8,057) per tonne. (AGENCIES)
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