Commodities

Copper gains on global cues

PTI New Delhi | Updated on May 11, 2011 Published on May 11, 2011

Supported by a firming trend in the base metals at the London Metal Exchange and pick up in spot demand, copper prices rose by another 0.32 per cent to Rs 410.20 a kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in August rose by Rs 1.30 or 0.32 per cent to Rs 410.20 a kg with a business turnover of 289 lots. It had lost 1.1 per cent to Rs 417 a kg in the previous session.

Similarly, the metal for delivery in June gained Rs 1.25 or 0.31 per cent to Rs 404.75 a kg with a business turnover of 2,362 lots. It had closed 0.30 per cent higher at Rs 403.50 a kg in the previous session.

Market analysts said the recovery in copper prices at futures trade was mostly due to a firming trend at London Metal Exchange, where a weaker dollar spurred demand for metals and other commodities.

Published on May 11, 2011
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