Facebook Pixel Code

Copper futures up on global cues

Copper prices rose by 0.52 per cent in futures trade today.

Copper prices rose by 0.52 per cent in futures trade today as speculators engaged in enlarging position amid a firming trend overseas and pick- p in spot market demand.

At the Multi Commodity Exchange, copper for delivery in far-month February traded higher by Rs 2.35, or 0.52 per cent, to Rs 454.55 per kg, with a business turnover of 654 lots.

Similarly, the metal for delivery in November edged up by Rs 2.30, or 0.51 per cent, to Rs 449.90 per kg, with a business turnover of 7,613 lots.

Marketmen said a firming trend overseas, boosted by hopes that China and the US will roll out more stimulus programmes to boost economies, raising demand outlook for industrial metals, influenced copper futures here.

Meanwhile, copper for December delivery climbed 0.8 per cent to USD 8,008.25 per tonne on the London Metal Exchange, breaking above USD 8,000 for the first time since May 14.

At Shanghai Futures Exchange, the metal for the most active December contract shot up 2.6 per cent to 58,130 yuan

Get live Share Market updates, Stock Market Quotes, and the latest India News and business news on Financial Express. Download the Financial Express App for the latest finance news.

First published on: 10-09-2012 at 16:55 IST
Market Data
Market Data
Today’s Most Popular Stories ×