NEW DELHI, June 29: Supported by a firm global trend, copper prices edged higher by 0.09 per cent to Rs 374.25 per kg in futures trade today as speculators built up bets.
At Multi Commodity Exchange, copper for delivery in August traded higher by 35 paise, or 0.09 per cent, at Rs 374.25 per kg in a business turnover of 361 lots.
Similarly, the metal for delivery in June edged up by 10 paise, or 0.03 per cent, to Rs 371.30 per kg in 936 lots.
Analysts said a firming trend in base metals at the London Metal Exchange (LME) after China’s central bank reduced its benchmark lending rate to 4.85 per cent, with lower reserve requirement ratios for some lenders, influenced copper futures here.
Meanwhile, copper for delivery in three months climbed 0.3 per cent to USD 5,774.50 per tonne at LME while the metal in Shanghai was unchanged at 42,300 yuan (USD 6,811) per tonne. (PTI)
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