New Delhi, Feb 27 (PTI) Copper prices went up by 0.16 per cent to Rs 458.45 per kg in futures market today as speculators built up fresh positions, tracking a firm trend overseas. Also Read - Sensex Plunges by 500 Points After US Federal Reserve's Hawkish Remarks
At the Multi Commodity Exchange, copper for delivery in February rose by 75 paise, or 0.16 per cent, to Rs 458.45 per kg in a business turnover of 934 lots. Also Read - Sensex Soars 489 Points as Fed's Dovish Stance Lifts Global Markets
On similar lines, the metal for delivery in April was trading higher by 55 paise, or 0.12 per cent, to Rs 463.65 per kg in 186 lots. Also Read - RCap invites Nippon Life to acquire its stake in asset management JV
Analysts attributed the rise in copper futures to a firm trend overseas where the metal inched up, lifted in light trade by a weaker dollar ahead of Federal Reserve Chairman Jerome Powell’s highly-anticipated first congressional testimony later in the day.
Meanwhile, copper for delivery in three months edged up 0.3 per cent to USD 7,131.50 a tonne on the London Metal Exchange. PTI KPS DPL KPS SBT SBT
This is published unedited from the PTI feed.