Commodities

Copper futures recover

PTI New Delhi | Updated on January 18, 2011 Published on January 18, 2011

Copper regained strength to trade 0.50 per cent higher in futures trade on Tuesday in tandem with gains at the London Metal Exchange (LME) on expectations of global supply deficit.

Pick up in demand at the domestic spot markets also supported the recovery in copper futures here.

At the Multi Commodity Exchange, copper delivery for February edged up by Rs 2.50 or 0.50 per cent to Rs 445.20 a kg, with a business turnover of 23 lots.

It had lost 0.80 per cent to Rs 443 a kg in the previous session.

Similarly, the metal for delivery in April traded higher by Rs 1.90 or 0.43 per cent to Rs 447.60 a kg, with a business turnover of eight lots.

Market analysts attributed the recovery in to expectations of global supply deficit this year.

Meanwhile, the three-month copper at the LME gained as much as 0.4 per cent, to $9,670 a tonne.

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Published on January 18, 2011
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