Copper futures traded up on MCX as investors and speculators booked fresh positions in the industrial metal after US new homes sales rebounded last month, signaling a pickup in the country’s housing recovery, lifting the demand outlook for industrial metals.
The contract for June delivery was trading at Rs 413.40, up by 0.62% or Rs 2.55 from its previous closing of Rs 410.85. The open interest of the contract stood at 16187.00 lots.
The contract for August delivery was trading at Rs 415.50, up by 0.52% or Rs 2.15 from its previous closing of Rs 413.35. The open interest of the contract stood at 856.00 lots on MCX.
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