NEW DELHI, Sept 11: Copper prices surged 1.02 per cent to Rs 472 per kg in futures trade today as speculators created huge positions tracking a firm global trend.
At the Multi Commodity Exchange, copper for delivery in November was up Rs 4.75, or 1.02 per cent, to Rs 472 per kg in business turnover of 1,067 lots.
Similarly, the metal for delivery in February shot up by Rs 4.70, or 1 per cent, to Rs 480.80 per kg in 36 lots.
Market analysts attributed the rise in copper futures to a firm global trend after US President Barack Obama asked Congress to delay a vote on US military action in Syria and upbeat Chinese economic data, the biggest consumer of the metal.
Meanwhile, copper for delivery in three months rose 0.6 per cent to USD 7,210 a tonne on the London Metal Exchange, while at Shanghai Futures Exchange, metal for delivery in December climbed 0.3 per cent to 52,130 yuan (USD 8,519) a tonne. (PTI)
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