It is reported that Indian copper prices rose by INR 3.55 to INR 379.05 per kilogram in futures trade largely in tandem with a firming trend overseas amids rising demand in domestic spot markets.
At the Multi Commodity Exchange, copper for delivery in April month contracts gained INR 3.55, or 0.95%, to INR 379.05 per kilogram in a business turnover of 790 lots.
The metal for delivery in far-month June edged up by INR 3.30, or 0.87%, to INR 383.90 per kilogram in 34 lots.
Analysts attributed the rise in copper futures to a firm trend in overseas markets after data showing the weakest pace of US hiring in more than a year weakened the dollar and boosted commodities.
Globally, in New York, copper for delivery in May on the Comex advanced 0.6% to USD 2.7495 a pound.
The London Metal Exchange and Shanghai Futures Exchange are closed for holidays in the UK and China.
Source : www.steelguru.com
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