NEW DELHI, Sept 16: Tracking a firming trend in base metals and increased domestic demand, copper was up 0.19 per cent to Rs 423.10 per kg in futures trade today as speculators enlarged positions.
At the Multi Commodity Exchange, copper for delivery in far-month November contracts traded higher by 80 paise, or 0.19 per cent, to Rs 423.10 per kg in business turnover of 399 lots.
Analysts said besides increased demand from consuming industries, a firming trend in most base metals in global markets on speculation that recent price declines were excessive, influenced copper prices at futures trade here.
Meanwhile, copper for delivery in three months climbed 0.3 per cent to USD 6,838.25 a tonne on the London Metal Exchange while at Shanghai Futures Exchange, the metal for November delivery rose 0.5 per cent to 48,640 yuan (USD 7,911) a tonne. (PTI)
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