Copper recovers on short covering

PTI New Delhi | Updated on March 04, 2011

Supported by short-covering and a higher trend at the London Metal Exchange (LME), copper futures prices recovered by 0.40 per cent to Rs 454.60 a kg today.

At the Multi Commodity Exchange, copper futures prices for delivery in June rose by Rs 1.80 or 0.40 per cent to Rs 454.60 a kg, with a business turnover of 290 lots.

Similarly, the metal for delivery in April also gained Rs 1.65 or 0.37 per cent to Rs 450.95 a kg, with a turnover of 5,406 lots. It had lost 0.35 per cent to Rs 449.30 a kg in the previous session.

Analysts said sentiment turned better at the domestic futures market here as prices strengthened at the LME.

Meanwhile, copper for three-month delivery went up by 0.16 per cent to $9,883.50 a tonne at the LME.

Published on March 04, 2011

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