NEW DELHI, Nov 24: Copper prices moved up by 0.28 per cent to Rs 414.05 per kg in futures trade today today as speculators created fresh positions on firm global cues.
At the Multi Commodity Exchange, copper for delivery this month traded higher by Rs 1.20, or 0.28 per cent, to Rs 414.05 per kg in a turnover of 654 lots.
Likewise, the metal for delivery in February 2015 edged up by 95 paise, or 0.23 per cent, to Rs 420.15 per kg in 62 lots.
Analysts attributed the rise in copper futures to a firm global trend after China’s unexpected cut in interest rates spur demand for industrial metals. China is the biggest consumer of base metals worldwide.
Globally, copper for delivery in three months rose 0.90 per cent to USD 6,725 per tonne at the London Metal Exchange (LME). (PTI)
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