Buoyed by a firming trend overseas and pick-up in spot demand, copper futures recovered by 0.56% to Rs 413.90 per kg today. At the Multi Commodity Exchange, April copper rose by Rs 2.30, or 0.56%, to Rs 413.90 per kg, with a business volume of 163 lots. The February delivery in February gained Rs 2.25, or 0.55%, to Rs 407.05 per kg, with a trade turnover of 2,236 lots. Copper for three-month delivery shot up by 0.5% to $7,446 a tonne on the London Metal Exchange (LME), while at Shanghai Futures Exchange gained 1.5% to 54,570 yuan ($8,611) per tonne. Market analysts attributed the rise in copper futures prices to a firming trend on the LME as an expansion in China’s manufacturing raised hopes that [...]
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