NEW DELHI, June 21: Copper prices rose by 0.14 per cent to Rs 405.30 per kg in futures trade today as speculators enlarged positions after metal rebounded from 20-month low in the global market amid pick-up in spot demand.
At the Multi Commodity Exchange, copper for delivery in June edged up by 55 paise, or 0.14 per cent, to Rs 405.30 per kg in business turnover of 3,7973 lots.
Likewise, the metal for delivery in August traded higher by 45 paise, or 0.13 per cent, to Rs 410.45 per kg in 256 lots.
Market analysts attributed the rise in copper futures to a recovery in the global market where it rebounded from the lowest level in 20 months after China’s central bank was said to have made funds available to lenders amid a cash crunch.
Also, pick-up in demand in the spot market further fuelled the uptrend, they said.
Meanwhile, copper rose 0.7 per cent to USD 6,817 a tonne on the London Metal Exchange, after dropping to USD 6,692, the lowest since October 2011. (PTI)
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