Copper futures rise on increasing demand

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Copper futures were trading higher during afternoon trade in the domestic market on Friday on the back of a firm overseas trend and increased domestic demand. 

 

Market analysts said besides increased demand from consuming industries, a firm trend in base metals at the LME as strengthening prospects of disruptions at the world s two largest mines threatened to send the market into a global shortage, mainly influenced copper prices at futures trade. 

 

At the MCX, copper futures for February 2017 contract is trading at Rs 395.40 per kg, up by 1.23 per cent, after opening at Rs 392, against a previous close of Rs 390.60. It touched the intra-day high of Rs 395.60.

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