Commodities

Copper futures jumps on global cues, spot demand

PTI New Delhi | Updated on May 09, 2011

Buoyed by a firming global trend and pick-up in spot demand, copper prices rose 1.37 per cent to Rs 405.50 per kg at the futures trade today.

At the Multi Commodity Exchange, copper for delivery in June rose Rs 5.60 or 1.37 per cent to Rs 405.50 per kg with a business turnover of 8,289 lots. It had gained 0.3 per cent to Rs 399.90 per kg in the previous session.

Similarly, the metal for delivery in June gained Rs 5.45 or 1.36 per cent to Rs 410.70 per kg with a business volume of 530 lots.

Market analysts attributed the rise in copper prices at futures trade to a firming trend at the London Metal Exchange.

Meanwhile, copper for three-month delivery rose 1.57 per cent to $8,927 a tonne at the London Metal Exchange.

Published on May 09, 2011

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