Copper futures rises to Rs 1,294.25/kg on weak US dollar, tight supply

New Delhi, Jan 21 (PTI) Copper prices rose by Rs 8.60 to Rs 1,294.25 per kg in the futures trade on Wednesday, as investors built fresh positions amid tightening inventories and improved sentiment across base metals.

On the Multi Commodity Exchange (MCX), copper futures for January delivery rose by Rs 8.60, or 0.67 per cent, to Rs 1,294.25 per kilogram in a business turnover of 12,695 lots.

The February contract of the red metal increased by Rs 8.15, or 0.62 per cent, to Rs 1,325 per kg in 9,857 lots.

In the international markets, Comex copper futures for March delivery rose 0.86 per cent to USD 5.87 per pound. On the London Metals Exchange (LME), the red metal futures appreciated by USD 148.55, or 1.16 per cent, to USD 12,927.65 per tonne.

"LME base metals saw a modest rebound in early trade, with copper recouping part of the Tuesday's losses as macro factors and a weaker US dollar lent support," Kotak Securities said.

Sentiment improved amid renewed trade rhetoric from US President Donald Trump, typically a tailwind for dollar-priced commodities.

"However, signs of demand fatigue persist in China, where the Yangshan copper import premium has fallen to its lowest level since mid-2024, suggesting elevated prices are starting to curb consumption," the brokerage firm said in a note. PTI HG HG ANU ANU