NEW DELHI, July 24: Copper prices went up by 0.46 per cent to Rs 429.10 per kg in futures trade today as speculators built up fresh positions, taking positive cues from overseas markets.
Besides, uptick in demand from consuming industries at the domestic spot market fuelled the uptrend.
At the Multi Commodity Exchange, copper for delivery in far-month November rose by Rs 1.95, or 0.46 per cent to Rs 429.10 per kg in business turnover of 41 lots.
In a similar fashion, the metal for delivery in August was trading higher by Rs 1.75, or 0.42 per cent to Rs 421.80 per kg in 1756 lots.
Market analysts said sentiment bolstered after London copper prices bounced back, buoyed by concerns over possible disruptions to supply from the world’s biggest copper mine.
Globally, copper for delivery in three month risen 0.6 per cent to USD 6,167 a tonne on the London Metal Exchange.
Also, with the most-traded copper contract on the Shanghai Futures Exchange adding 1 per cent to 49,350 yuan (USD 7,247.12) a tonne. (PTI)
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