Logo

Logo

Copper futures surge on global cues, spot demand

Tracking gains in base metals at the London Metal Exchange, copper prices rose 0.69 per cent to Rs 460.60 per…

Copper futures surge on global cues, spot demand

Representational image (Photo: Getty Images)

Tracking gains in base metals at the London Metal Exchange, copper prices rose 0.69 per cent to Rs 460.60 per kg in futures trade on Thursday.

At the Multi Commodity Exchange, copper for delivery in April traded higher by Rs 3.15, or 0.69 per cent, at Rs 460.60 per kg, in a business turnover of nine lots.

Advertisement

The metal for delivery in February also moved up by Rs 2.80, or 0.62 per cent, to trade at Rs 456.90 per kg in 896 lots.

Advertisement

Analysts said apart from a firming trend in copper and other base metals at the London Metal Exchange (LME), a weaker dollar helped the base metal to rebound from a one- month low.

Globally, copper three-month forwards ended up 3.3 per cent higher at USD 7,150 per tonne yesterday at the LME.

Advertisement