Copper recovers in futures trade on global cues
Supported by a firming trend at the London Metal Exchange and pick-up in spot demand, copper prices recovered by 0.47 per cent to Rs 402.55 per kg in futures trade today.
At the Multi Commodity Exchange , copper for delivery in June rose by Rs 1.90, or 0.47 per cent to Rs 402.55 per kg, with a business turnover of 3,104 lots. It had lost 2.5 per cent to Rs 400.65 per kg in the previous session.
In a similar fashion, the metal for delivery in August gained Rs 1.85, or 0.46 per cent to Rs 408.05 per kg, with a business turnover of 191 lots.
Market analysts said the rise in copper prices at futures trade was mostly due to a firming trend at London Metal Exchange, where the metal recovered after falling three per cent in yesterday's trade.