NEW DELHI, Nov 25: Copper prices moved up by 0.39 per cent to Rs 411.80 per kg in futures trade today as speculators covered-up their short positions even as metal weakened overseas.
At the Multi Commodity Exchange, copper for delivery in November traded higher by Rs 1.60, or 0.39 per cent, to Rs 411.70 per kg in a business turnover of 888 lots.
Metal for delivery in far-month February gained Rs 1.50, or 0.36 per cent to Rs 418.70 per kg in business turnover of 112 lots.
Analysts attributed the rise in copper futures to covering-up of short positions by speculators but metal’s losses at the London Metal Exchange (LME), limited the gains.
Meanwhile, copper for delivery in three months slipped 0.2 per cent to USD 6,664 a tonne at the LME, while in Shanghahi, January next year delivery dropped 0.50 per cent to 47,580 yuan (USD 7,749) per tonne. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel