Copper futures closed higher in the domestic market on Tuesday as participants enlarged their positions, taking positive cues from overseas markets and pick-up in spot demand.
Market analysts attributed the rise in copper futures trade to a firming trend in the base metals pack at the LME as UK Chancellor of the Exchequer George Osborne sought to reassure markets following Britain's vote to leave the European Union and pick-up in spot demand.
At the MCX, Copper futures for June 2016 contract closed at Rs 325.80 per kg, up by 2.49 per cent after opening at Rs 319.90, against a previous close of Rs 317.90. It touched the intra-day high of Rs 326.70.
Market analysts attributed the rise in copper futures trade to a firming trend in the base metals pack at the LME as UK Chancellor of the Exchequer George Osborne sought to reassure markets following Britain's vote to leave the European Union and pick-up in spot demand.
At the MCX, Copper futures for June 2016 contract closed at Rs 325.80 per kg, up by 2.49 per cent after opening at Rs 319.90, against a previous close of Rs 317.90. It touched the intra-day high of Rs 326.70.
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