Copper Futures Prices Rises Supported Firm Trend

Futures prices of copper commodity rose by Rs 1.45, or 0.41 per cent, to Rs 357.15 per kg today, supported by firming trend at the London Metal Exchange as weak dollar boosted the appeal of commodity as an alternative investment.

Copper prices for three-month delivery on the London Metal Exchange rose as much as 0.3 per cent to $7,715 a metric tonne. The LME-Index of six metals, including copper and aluminium advanced 0.8 per cent yesterday to the highest level since April 26.

Copper futures prices was mostly due to firming trend in base metals in global markets after weak dollar raised the appeal of base metals and other commodity as an alternative investment.

Multi Commodity Exchange counter, contract for November delivery shot up by Rs 1.45, or 0.41 per cent, to Rs 357.15 per kg, with a turnover of nine lots. It ended 0.35 per cent higher at Rs 355.70 per kg in the previous session. Commodities metal for delivery in February gained Rs 1.35, or 0.38 per cent at Rs 359.05 per kg, with a turnover of 11 lots.