NEW DELHI, Aug 23: Supported by a positive economic data and increased domestic demand, copper prices rose by 0.88 per cent to Rs 474.50 per kg in futures trade today as participants enlarged positions.
At the Multi Commodity Exchange, copper for delivery in August traded higher by Rs 4.15, or 0.88 per cent, to Rs 474.50 per kg in business turnover of 1,751 lots.
The metal for delivery in far-month November shot up by Rs 3.20, or 0.67 per cent to Rs 478.50 per kg in 388 lots.
Globally, copper for delivery in three months climbed 0.20 per cent to USD 7,336 per tonne on the London Metal Exchange.
Market analysts said a firming overseas trend as US jobless claims fell and manufacturing in China and the euro area grew more than estimated, adding to signs of a global recovery, mainly influenced copper prices at futures trade here.
Besides, increased demand at domestic spot markets from consuming industries, also supported the upside in metal’s prices, they said. (PTI)
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