ET reported that Buoyed by a firm global trend and pick up in domestic demand copper traded higher by 0.67% at INR 447.50 per kilogram in futures trade.
At the Multi Commodity Exchange, copper for delivery in April traded higher by INR 3 or 0.67% at INR 447.50 per kilogram with a business turnover of 617 lots. Similarly, the metal for delivery in February edged up by INR 2.85 or 0.65% to INR 443.70 per kilogram with a business turnover of 7,257 lots.
Marketmen said that a firm global trend after data showed Chinese manufacturing activity had picked up pace in November adding to evidence growth in the biggest consumer of the metal is rebounding influenced copper prices at futures trade here. Besides, increased demand at domestic spot markets from consuming industries also supported the upside.
Meanwhile, copper for delivery in three months gained 0.6% to trade at 6 week high of USD 8,045 per tonne on the London Metal Exchange.
