NEW DELHI : Buoyed by a firming trend in global markets as China’s manufacturing expanded more than estimated in October, copper futures prices rose by 0.42 per cent to Rs 454.40 per kg today as speculators enlarged positions.
At the Multi Commodity Exchange, copper for delivery in November rose by Rs 1.90, or 0.42 per cent, to Rs 454.40 per kg, with a business turnover of 1,676 lots.
Similarly, the metal for delivery in February traded higher by Rs 1.60, or 0.35 per cent, to Rs 464.20 per kg, with a business turnover of 125 lots.
Marketmen said a firming trend overseas after China’s manufacturing expanded more than estimated in October, boosting the demand outlook for the industrial metals in the world’s biggest user, influenced copper prices at futures trade here.
Besides, pick-up in demand at the domestic spot market supported the upside, traders said.
Meanwhile, copper for the metal for delivery in three months climbed 0.3 per cent to USD 7,267.25 per tonne at the London Metal Exchange, while at Shanghai, the metal traded little changed at 51,870 yuan (USD 8,512) per tonne. (PTI)
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