NEW DELHI, Sept 26: Copper prices moved up by 0.18 per cent to Rs 418.05 per kg in futures trade today as speculators created fresh positions, taking positive cues from global markets.
Besides, rising demand at domestic spot markets supported the upward trend.
At the Multi Commodity Exchange, copper for delivery in far-month November contracts traded higher by 75 paise, or 0.18 per cent, to Rs 418.05 per kg in a business turnover of 979 lots.
Analysts attributed the rise in copper futures to a firm global trend where it rebounded from the lowest in 14 weeks ahead of US data that is forecast to show faster growth in the world’s second-biggest metal user.
Meanwhile, copper for delivery in three-months gained as much as USD 38.75, or 0.6 per cent, to USD 6,733.75 a metric tonne at the London Metal Exchange. The metal on the Shanghai Futures Exchange for delivery in December gained 0.1 per cent to 47,790 yuan (USD 7,789) per tonne. (PTI)
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