NEW DELHI, May 21: Copper prices moved up 0.39 per cent to Rs 402.35 per kg in futures trade today as speculators created fresh positions in tandem with a firming global trend.
Furthermore, pick-up in demand from consuming industries at domestic markets supported the upside.
Copper for delivery in June contracts traded higher by Rs 1.55, or 0.39 per cent, to Rs 402.35 per kg in a business turnover of 1,068 lots in futures trading at Multi Commodity Exchange.
Also, metal for delivery in August contracts gained Rs 1.60, or 0.38 per cent, to trade at Rs 407.30 per kg with a business volume of 28 lots.
Analysts attributed this to a firm global trend as most industrial metals climbed as manufacturing data from China, the world’s biggest consumer, signalled the first improvement in three months.
Meanwhile, copper for delivery in three months added 0.5 per cent to USD 6,248 a tonne on the London Metal Exchange, while in Shanghai, July delivery gained 0.7 per cent to 45,060 yuan (USD 7,265) per tonne. (PTI)
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