Copper Updates - Improved Global Demand Outlook Buoys Copper

Copper futures advanced during late morning trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for copper, in the domestic spot market

 Further, finance heads from the Group of 20 countries sought to revive confidence in the global economy with the People’s Bank of China Governor saying that the Chinese central bank had at its disposal, more room to act and bolster economic growth in the world’s biggest metals consumer.
 

At the MCX, Copper futures for February 2016 contract were trading at Rs.317.2 per 1 kg, up by 0.70 per cent, after opening at Rs. 316, against the previous closing price of Rs. 315. It touched the intra-day high of Rs. 317.5. 

 

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