Copper futures prices up on firm global cues

The metal for delivery in far-month February rose by similar margin to Rs 441 per kg.

Written by Agencies | New Delhi | Published: October 16, 2012 11:39 am

Buoyed by a firming trend in global markets,copper prices recovered by 0.17 per cent,to Rs 435.30 per kg in futures trading today as speculators created fresh position.

At the Multi Commodity Exchange,copper for delivery in November traded 75 paise,or 0.17 per cent higher at Rs 435.30 per kg,with a business turnover of 2,285 lots.

The metal for delivery in far-month February rose by similar margin to Rs 441 per kg in a turnover of 160 lots.

Market analysts said a firming trend overseas as the US reported better-than-expected retail sales,and reports consumption in China is sustained,boosting demand,influenced copper futures prices here.

Meanwhile,copper for delivery in three-months climbed 0.8 per cent to USD 8,155.25 per tonne on the London Metal Exchange

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