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18-Aug2016

Copper futures trade higher on MCX

Copper futures traded higher on MCX as investors booked fresh positions in the industrial metal amid a pickup in physical demand for copper in the domestic spot market. Further, easing worries over a Federal Reserve interest rate hike in September also bolstered the appetite for risky assets as Fed minutes showed that policymakers from the world's top central bank were divided over the urgency to raise interest rates.

The contract for August delivery was trading at Rs 321.75, up by 0.86% or Rs 2.75 from its previous closing of Rs 319.00. The open interest of the contract stood at 26900.00 lots.

The contract for November delivery was trading at Rs 328.05, up by 0.72% or Rs 2.35 from its previous closing of Rs. 325.70. The open interest of the contract stood at 1587.00 lots on MCX.


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