Copper Updates - Copper futures advanced in the domestic market during late morning trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid hopes that fresh measures by China, the world’s biggest metals consumer, to bolster growth in the country’s economy may lift demand.
The Chinese central bank relaxed curbs on the amount that banks can pay as deposits and charge for loans, while the country’s cabinet discussed reducing the minimum ratio of provisions that lenders can set aside for bad loans.
At the MCX, Copper futures for February 2016 contract were trading at Rs.316.85 per 1 kg, up by 0.65 per cent, after opening at Rs. 314.9, against the previous closing price of Rs. 314.8. It touched the intra-day high of Rs. 316.95.
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