Copper remains up in futures trade on firm global cues
Taking positive cues from London Metal Exchange and rising domestic demand, copper prices rose by another 0.59 per cent to Rs 420.60 per kg in futures trade today.
At the Multi Commodity Exchange , copper for delivery in August rose by Rs 2.45, or 0.59 per cent to Rs 420.60 per kg, with a business turnover of 563 lots.
Similarly, the metal for delivery in June gained Rs 2.20, or 0.53 per cent to Rs 415.10 per kg, with a business turnover of 8,836 lots. It had closed 2.4 per cent higher at Rs 412.90 per kg in the previous session.
Meanwhile, copper for three-month delivery rose by 0.5 per cent on the London Metal Exchange to USD 9,110 a metric tonne in the early trade today.
Market analysts said the continued gains in copper prices at futures trade was mostly attributed to a firming trend at the London Metal Exchange, where metal strengthened as investors turned positive on demand amid supply disruptions.