Copper futures up 0.17% on global cues

Copper prices edged up by 0.17 per cent to Rs 419.80 per kg in futures trading today as speculators built up fresh positions, taking positive lead from global markets.

Besides, uptick in demand at the domestic spot markets, too, fuelled the uptrend.

At the Multi Commodity Exchange, copper for delivery in far-month November hardened by 70 paise, or 0.17 per cent to Rs 419.80 per kg in business turnover of 12 lots.

Similarly, the metal for delivery in August inched up by 30 paise, or 0.07 per cent to Rs 412.40 per kg in 1,025 lots.

Market analysts said sentiment was bolstered base metals prices rose in Asian trade today, with London copper climbing back above the USD 6,000 a tonne mark, as the dollar slipped and the market awaited crunch US-China trade talks in Washington.

Meanwhile, copper for delivery in three-month edged up 0.2 per cent to USD 6,004.50 a tonne on the London Metal Exchange.

Also the rates for most-traded October on the Shanghai Futures Exchange climbed 0.6 per cent to 48,390 yuan (USD 7,039.57) a tonne.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

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