Copper futures recover on short covering

Copper futures prices gained 0.74 per cent to Rs 436.65 per kg on Thursday, supported by short - covering, and higher trend at the London Metal Exchange (LME).

At the Multi Commodity Exchange, copper for delivery in April rose by Rs 3.30, or 0.74 per cent, to Rs 436.65 per kg, with a business turnover of three lots.

Similarly, the metal for delivery in February gained Rs 3, or 0.70 per cent, to Rs 430.70 per kg, with a business turnover of four lots.

Analysts said trade sentiments turned better as copper prices strengthened at the LME along with covering-up of pending short positions by speculators ahead of monthly expiry.

Meanwhile, copper for three-month delivery rose by 0.5 per cent to USD 9,475 per tonne at the LME.

(Source: http://www.indianexpress.com/news/Copper-futures-recover-on-short-covering/754267)