Copper futures surge on China demand
05/01/2017 15:56
Copper futures rose during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the industrial metal on pick up in physical demand from consuming industries after outlook brightened for Chinese metals demand.
Further, the prices of copper grew following overseas markets after China unveiled a metals-intensive railway construction plan that would require massive amounts of copper wiring.
At the MCX, copper futures for February 2017 contract is trading at Rs 384.65 per kg, up by 0.16 per cent, after opening at Rs 384.20, against a previous close of Rs 384.05. It touched the intra-day high of Rs 388 (at 15:49 hours).
05/01/2017 15:56
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Further, the prices of copper grew following overseas markets after China unveiled a metals-intensive railway construction plan that would require massive amounts of copper wiring.
At the MCX, copper futures for February 2017 contract is trading at Rs 384.65 per kg, up by 0.16 per cent, after opening at Rs 384.20, against a previous close of Rs 384.05. It touched the intra-day high of Rs 388 (at 15:49 hours).
