NEW DELHI, June 3: Buoyed by a firm global trend and increased domestic demand, copper prices rose 0.91 per cent to Rs 415.60 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in June traded higher by Rs 3.75, or 0.91 per cent to Rs 415.60 per kg in business turnover of 5,774 lots.
The metal for delivery in August edged up by Rs 3.50, or 0.84 per cent to Rs 420.70 per kg in 391 lots.
Globally, copper for delivery in three months climbed 1 per cent to USD 7,380 a tonne on the London Metal Exchange. At Shanghai Futures Exchange, the metal for September delivery rose 0.6 per cent to 53,020 yuan (USD 8,643) a tonne.
Market analysts said besides increased demand from consuming industries, a firming overseas trend, amid signs of stabilising growth in China, the world’s biggest buyer and a fall in stockpiles, mainly influenced copper prices at futures trade here.
Meanwhile, copper stockpiles monitored by the LME fell to 608,450 tonnes on May 31, marking the first monthly decline since September. (PTI)
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