Copper futures rise on global cues, spot demand

NEW DELHI, Apr 17: Copper prices rose 0.24 per cent to Rs 416.90 per kg in futures trade today, as speculators created positions.
At the Multi Commodity Exchange, copper for delivery in June traded higher by Rs 2.20, or 0.24 per cent, to Rs 416.90 per kg in business turnover of 217 lots.
Metal for delivery in April edged up by Rs 1.15, or 0.21 per cent, to Rs 405.55 per kg in 3,132 lots.
Globally, copper for delivery in three months rose 0.30 per cent to USD 6,637 a tonne on the London Metal Exchange as China’s economic expansion topped estimates.
At Shanghai Futures Exchange, the metal for July delivery up 0.8 per cent to 46,570 yuan (USD 7,489) a tonne.
Analysts said apart from increased demand from consuming industries, a firming overseas trend, mainly influenced copper prices at futures trade here. (PTI)

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