Home / MCX Metals / Copper futures up 0.33% on strong global cues

Copper futures up 0.33% on strong global cues

By taking positive signals from overseas markets and a rebound in spot demand, copper futures prices today rose 0.33% to Rs 453 per kg.

At MCX, copper for delivery in April increased by Rs 1.50, or 0.33%, to Rs 453 per kg, with business revenues of 127 lots.

Similarly, the metal for February delivery increased by Rs 1.40, or 0.31%, to Rs 446.90 per kg, with a trade volume of 3,532 lots.

Globally, copper for three month delivery on to 0.4% at $ 6,987.50 a tonne on the London Metal Exchange (LME), while in Shanghai Futures Exchange increased 0.20% to 50,290 yuan (8,256 dollars) per tonne.

Market observers attributed the increased in copper futures trade to a firming trend at the LME as stocks declined and manufacturing expanded in China and the U.S., the biggest users of the world.

Reported: Business Standard

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About Narmada Ji

Myself Technical Analyst and Owner Investment Growth Services (100mcxtips.com). 100McxTips is a Market Leader MCX Commodity Advisory, which has a strong hold in offering trusted MCX Tips and accurate as well as Commodity Market Tips. For more mcx, commodity market news by 100McxTips, follow us on Twitter @100mcxtips and on Facebook at facebook.com/100mcxtips.

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