Economic Times reported that taking positive cues from the global markets and a pick up in domestic demand,copper prices rose further by 0.30%to INR 448.25 per kg in futures trade on December 18,2012
At the Multi Commodity Exchange,copper for delivery in February traded higher by INR 1.35,or 0.30%,at INR 448.25 per kg,with a business turnover of 6,672 lots.
Similarly,the metal for delivery in April edged up by INR 1.30,or 0.29%,to INR 452.50 per kg,with a business turnover of 416 lots.
Marketmen said a firm global trend on encouraging economic data from China,the biggest consumer of the metal and speculation that US lawmakers will reach an agreement on the budget,mainly influenced copper prices at futures trade here.
They said that further,increased demand at domestic spot markets from consuming industries also supported the upside.Meanwhile,copper for delivery in three months gained 0.3%to trade at USD 8,085 a tonne on the London Metal Exchange.
Source-Economic Times
