Copper futures rise on global cues

Nov 22 2012, 16:02 IST
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SummaryAmid a firm global trend and increased domestic demand, copper prices traded higher by 0.20 per cent to Rs 426.65 per kg in futures trade.

Amid a firm global trend and increased domestic demand, copper prices traded higher by 0.20 per cent to Rs 426.65 per kg in futures trade today as speculators enlarged positions.

At the Multi Commodity Exchange, copper for delivery in November traded higher by 85 paise, or 0.20 per cent, to Rs 426.65 per kg, with a business turnover of 8,667 lots.

Likewise, the metal for delivery in February edged up by 65 paise, or 0.15 per cent, to Rs 432.30 per kg, with a business turnover of 801 lots.

Marketmen said besides increased demand from consuming industries in the spot market, a firm global trend as data indicated manufacturing in China, the largest user, may have expanded for the first time in 13 months in November, led to rise in copper prices at futures trade.

Meanwhile, copper for delivery in three months advanced 0.7 per cent to USD 7,746 a tonne on the London Metal Exchange.

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