Copper futures up 0.28% on China demand growth hopes

by - 5:20 pm

Copper futures rose during afternoon trade in the domestic market on Monday as investors and speculators extended their positions in the industrial metal on pick up in physical demand from consuming industries amid optimism that the world’s 2 biggest economies, the US and China, will ramp up fiscal spending to boost slowing growth. 

 

Further, the prices of copper grew on hopes that the US President-Elect Donald Trump's plan to boost US infrastructure may lift demand in China. At the MCX, copper futures for February 2017 contract is trading at Rs 377.85 per kg, up by 0.28 per cent, after opening at Rs 380, against a previous close of Rs 376.80. It touched the intra-day high of Rs 380.

 

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