Copper Futures Rise 0.51% On Strong Demand

Copper futures were trading higher during the afternoon trade in the domestic market on Tuesday as investors widened their bets in the industrial metal amid surge in demand at the domestic spot markets. tracking the overseas cues. 

The prices of copper rose at futures trade led by an upward trend in base metals at the spot markets due to an increase in demand from consuming industries and tracking positive cues from global markets after a report showed that activity picked up at China’s small-to-medium size factories in July. 

At the MCX, copper futures for August 2016 contract is trading at Rs 327.35 per kg, up by 0.51 per cent, after opening at Rs 326.50, against a previous close of Rs 325.70. It touched the intra-day high of Rs 328.65.

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Suhani Verma

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