NEW DELHI, May 9: Tracking a firm trend in base metals overseas, copper prices went up by 0.23 per cent to Rs 461.10 per kg in futures trade today as speculators built up fresh positions.
Uptick in demand from consuming industries at the domestic spot market too supported the uptrend.
At the Multi Commodity Exchange, copper for delivery in far-month August rose by Rs 1.05, or 0.23 per cent to Rs 461.10 per kg in business turnover of 38 lots.
On similar lines, the metal for delivery in June contract was up by 80 paise, or 0.18 per cent to Rs 457.10 per kg in 2005 lots.
Analysts said fresh positions created by traders after a firm trend in copper and other base metals at the London Metal Exchange led to rise in copper prices at futures trade. However, gains were limited with investors cautious after the US pulled out of the international nuclear deal with Iran.
Globally, copper for delivery in three-month rose 0.9 per cent to USD 6,804.00 per metric tonne at LME. (PTI)
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