Copper futures for February series touches a new high of Rs 643.30 per kg
Hedge funds and money managers increased their net long positions in copper futures and options by 9,939 contracts to 87,671 in the week to February 9, data from the US CFTC showed last week.
Mumbai / February 15, 2021 / 07:59 PM IST
Copper prices for February series jumped to Rs 643.30 per kg on February 15 after touching a new high of Rs 649.65 during the intraday trade on the MCX. The base metal trimmed earlier gains after a gap-up open in the evening trade.
Copper prices surged to a fresh 8-year high as investors took advantage of a pullback to add to their bullish positions, betting demand will keep outpacing supply.