ECM: Copper futures strengthen on firm global cues
NEW DELHI: Copper prices gained Rs 1.20 to Rs 429.10 per kg in futures trade today, as speculators enlarged their positions on the back of a firm trend in New York.
At the Multi Commodity Exchange counter, copper for delivery in February gained Rs 1.20, or 0.28 per cent, to Rs 429.10 per kg, with a business turnover of three lots.
Similarly, the metal for delivery in April month traded higher by Rs 1.15, or 0.27 per cent, to Rs 431.25 per kg, with an open interest of three lots.
Traders said beside firming copper prices in New York, fresh buying by speculators led to the rise in copper futures prices.
Copper in New York for delivery in March gained to its highest ever by adding 0.9 per cent, to USD 4.2985 a pound.
