NEW DELHI, June 4: Copper prices moved up by 0.23 per cent to Rs 416.45 per kg in futures trade today as speculators created fresh positions on firm global cues.
At the Multi Commodity Exchange, copper for delivery in June traded higher by 95 paise, or 0.23 per cent, to Rs 416.45 per kg in business turnover of 2,317 lots.
Likewise, the metal for delivery in August edged up by 85 paise, or 0.20 per cent to Rs 421.65 per kg in 132 lots.
Analysts attributed the rise in copper futures to a firm global trend where metal advanced to over one-week high amid a shutdown at the world’s second-biggest mine and signs of improvement in manufacturing activity in China, the biggest consumer.
Besides, rising demand from consuming industries at domestic spot markets supported the upside, they said.
Meanwhile, copper climbed 0.6 per cent to USD 7,380.25 a tonne on the London Metal Exchange. (PTI)
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