NEW DELHI, July 26: Copper futures traded 1.22 per cent higher at Rs 410.95 per kg today as speculators enlarged positions amid positive global cues and increased spot demand at the domestic spot markets.
In futures trade, copper for delivery in August was trading higher by Rs 4.95, or 1.22 per cent, at Rs 410.95 per kg in a business turnover of 2,244 lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in November edged up by Rs 4.90, or 1.19 per cent, at Rs 417.20 per kg in 121 lots.
Market analysts said apart from positive global cues as expectations of rising demand in China and a weak dollar lifted markets, a better trend in base metals at the domestic spot markets on pick-up in demand from consuming industries, influenced copper futures here.
Meanwhile, copper for delivery in three months rose 0.9 per cent to USD 6,280 per tonne at the London Metal Exchange in yesterday’s trade. (PTI)
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