NEW DELHI, Apr 2: Taking positive cues from the overseas markets and pick-up in spot demand, copper futures rose 0.19 per cent to Rs 404.50 per kg.
At the Multi Commodity Exchange, copper for delivery in April rose by 75 paise, or 0.19 per cent, to Rs 404.50 per kg, with a turnover of 842 lots.
The metal for delivery in June was up by 55 paise, or 0.13 per cent, at Rs 408.50 per kg, with a trade volume of 14 lots.
Globally, copper for three-month delivery shot up by one per cent to USD 6,728.75 a tonne on the London Metal Exchange (LME), the highest intra-day level since March 10, while in Shanghai, futures for delivery in June advanced 0.2 per cent to 46,850 yuan (USD 7,559) a tonne.
Market analysts attributed the rise in copper in futures trade to a better trend on the LME on concern that an earthquake in Chile, the world’s biggest producer, may disrupt supplies.
Besides, pick-up on spot demand also supported the upside, they added. (PTI)
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