Copper futures strengthens

PTI New Delhi | Updated on February 21, 2011

Copper prices rose by Rs 2.60 to Rs 456.10 a kg in futures trade today as speculators created fresh positions on the back of a firming global trend.

At the Multi Commodity Exchange, copper for delivery in June rose by Rs 2.60, or 0.57 per cent, to Rs 456.10 a kg, with a business turnover of two lots.

Similarly, the metal for delivery in February gained Rs 2.35, or 0.53 per cent, to Rs 447.80 a kg, with an open interest of three lots.

Market analysts said fresh positions created by speculators in tandem with a firming trend at London Metal Exchange (LME), mainly led to rise in copper futures prices.

Meanwhile, copper for three month delivery contract rose by 0.3 per cent to $ 9,887 a tonne on the LME.

Published on February 21, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor