Copper rises 0.54 per cent in futures trade on global trend

Published - July 19, 2010 11:47 am IST - New Delhi

Copper pots on displayt at an outlet in Hyderabad. File photo

Copper pots on displayt at an outlet in Hyderabad. File photo

Supported by firming trend at the London Metal Exchange, copper traded Rs. 1.65 or 0.54 per cent higher to Rs. 307.85 per kg in futures trade today.

Good demand at physical markets also influenced copper prices at futures market here.

On the Multi Commodity Exchange platform, copper for delivery in August contract gained Rs. 1.65 or 0.54 per cent, to Rs. 307.85 per kg, with a business volume of 4,802 lots.

It had ended 0.20 per cent down at Rs. 306.20 per kg in the previous session.

The metal for delivery in far-month November contract also traded higher by Rs. 1.55 or 0.50 per cent, to Rs. 311.05 per kg, with a turnover of 2 lots.

At the London Metal Exchange platform, the three-month delivery for copper gained as much as 0.77 per cent at $ 6,548 a tonne in early trade today, after falling nearly 3 per cent in the previous session.

Analysts said positive trend at the London Metal Exchange after reports that said Chile’s Coldelco would halt extraction at its unit, helped pick up the demand, making copper to trade higher in futures trade here.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.