ET reported that Buoyed by a firming trend in global markets, copper futures prices rose by 1.28% to INR 461.20 per kilogram as speculators enlarged positions.

At the Multi Commodity Exchange, copper for delivery in November rose by INR 5.85 or 1.28% to INR 461.20 per kilogram with a business turnover of 16,422 lots. Similarly, the metal for delivery in February traded higher by INR 5.80 or 1.26% to INR 466 per kilogram with a business turnover of 1,351 lots.

Marketmen said that a firming trend overseas after the US Federal Reserve announced fresh round of stimulus to revive the world's biggest economy, boosting demand outlook for the metals influenced copper futures prices.

Traders said that besides, pick up in demand at the domestic spot market supported the upside. Meanwhile, copper for the metal for delivery in three months climbed 2.9% on the London Metal Exchange.

Source - Economic Times

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