Agri Business

Copper futures strengthens on global cues

PTI New Delhi | Updated on November 09, 2017 Published on December 30, 2010

In futures trade, copper prices rose by 0.57 per cent to Rs 432 a kg at the Multi Commodity Exchange counter today after the metal soared to record high at the London Metal Exchange (LME) on weakening dollar.

Besides, covering-up of short positions by speculators ahead of monthly expiry and rising demand at the domestic spot market, influenced futures prices.

At the Multi Commodity Exchange counter, copper delivery for December edged up by Rs 2.45 or 0.57 per cent to Rs 432 a kg, with a business turnover of 4,836 lots.

Similarly, the metal for delivery in April traded higher by Rs 2.10 or 0.49 per cent to Rs 434.60 a kg, with a business turnover of 362 lots.

Market analysts said reports of firm trend in copper at the LME, where the metal prices surged by 0.7 per cent to new high of $9,466 a tonne as weakening dollar raised its appeal and a decline in global stockpiles influenced futures prices here.

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Published on December 30, 2010
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