NEW DELHI, June 23: Buoyed by a firm global trend and increased domestic demand, copper prices rose 1.55 per cent to Rs 365.90 per kg in futures trade today as participants created speculative positions.
In futures trading at Multi Commodity Exchange, copper for delivery in June traded higher by Rs 5.60, or 1.55 per cent, at Rs 365.90 per kg in a business turnover of 2,200 lots.
Metal for delivery in far-month August contracts spurted by Rs 5.55, or 1.52 per cent, to Rs 371.30 per kg in a business volume of 222 lots.
Globally, copper for delivery in three months rose 1.9 per cent to USD 5,760 a tonne on the London Metal Exchange (LME) while in Shanghai, the metal advanced 0.3 per cent to 41,950 yuan (USD 6,756) per tonne.
Analysts said a firming overseas trend after copper and nickel led metals higher as manufacturing in China showed signs of stabilising and amid speculation a deal is near between Greece and its euro-area creditors, mainly influenced copper prices here. (PTI)
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