Copper Futures Rise on Higher Spot Demand
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Copper futures prices increased by 0.24% to Rs 878.25 per kg due to higher spot demand, despite recent price drops. Analysts attribute the rise to increased participant bets.
New Delhi, Aug 1 (PTI) Copper futures rose 0.24 per cent to Rs 878.25 per kilogram on Friday due to higher spot demand.
On the Multi Commodity Exchange, copper contracts for August delivery grew Rs 2.10 or 0.24 per cent to Rs 878.25 per kg in a business turnover of 6,909 lots.
Analysts attributed the rise in copper prices to higher bets by participants.
Copper prices on Thursday dropped Rs 36 to hit an all-time low of Rs 861.70 per kilogram in futures trade after the US administration announced that it plans to impose a 50 per cent tariff on copper imports.
On the Multi Commodity Exchange, copper contracts for August delivery grew Rs 2.10 or 0.24 per cent to Rs 878.25 per kg in a business turnover of 6,909 lots.
Analysts attributed the rise in copper prices to higher bets by participants.
Copper prices on Thursday dropped Rs 36 to hit an all-time low of Rs 861.70 per kilogram in futures trade after the US administration announced that it plans to impose a 50 per cent tariff on copper imports.
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