ET reported that buoyed by a firming trend in global markets, copper prices recovered by 0.17% to INR 435.30 per kilogram in futures trading as speculators created fresh position.

At the Multi Commodity Exchange, copper for delivery in November traded 75 paise or 0.17% higher at INR 435.30 per kilogram with a business turnover of 2,285 lots. The metal for delivery in far month February rose by similar margin to INR 441 per kilogram in a turnover of 160 lots.

Market analysts said that a firming trend overseas as the US reported better than expected retail sales, and reports consumption in China is sustained, boosting demand, influenced copper futures prices here. Meanwhile, copper for delivery in 3 months climbed 0.8% to USD 8,155.25 per tonne on the London Metal Exchange.

Source - Economic Times

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