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Last Updated : Jan 09, 2019 12:29 PM IST | Source: PTI

Global cues, spot demand lift copper futures by 0.86%

At the Multi Commodity Exchange, copper for delivery in February rose Rs 3.55, or 0.86 per cent, to Rs 416.95 per kg in a business turnover of 3,687 lots.

Copper prices rose 0.86 per cent to Rs 416.95 per kg in futures trade Wednesday as speculators built positions amid positive global cues and pick up in spot demand here.

At the Multi Commodity Exchange, copper for delivery in February rose Rs 3.55, or 0.86 per cent, to Rs 416.95 per kg in a business turnover of 3,687 lots.

Analysts attributed the rise in prices to a firm global trend where the metals strengthened, buoyed by a report that top metals consumer China would try to boost spending on autos and home appliances this year, as well as signs of progress in Sino-US trade talks.

Globally, three-month copper on the London Metal Exchange (LME) rose 0.9 per cent to $5,959.50 per tonne.
First Published on Jan 9, 2019 12:22 pm
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