NEW DELHI, June 2: Copper futures rose 0.43 per cent to Rs 412.55 per kg today on positive cues from global markets and rising domestic spot demand.
At the Multi Commodity Exchange, copper for delivery in June rose by Rs 1.75, or 0.43 per cent, to Rs 412.55 per kg, with a turnover of 617 lots.
Similarly, the metal for delivery in August was up by Rs 1.70, or 0.41 per cent, at Rs 414.65 per kg, with a trade volume of 10 lots.
Globally, copper for delivery in three months climbed 0.8 per cent, the most since May 23, to USD 6,898 per tonne at the London Metal Exchange.
Market analysts said positions enlarged by participants, after a gauge of Chinese manufacturing expanded at the fastest pace in five months, boosting demand prospects from the world’s biggest user of industrial metals, influenced copper prices at futures trade.
Meanwhile, inventories tracked by exchanges in Shanghai, London and New York slid 45 per cent this year to the lowest since 2008, according to data. (PTI)
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