Copper recovers in futures trade on global cues

In range-bound movements, copper prices recovered marginally today by 0.09% in futures trade today largely in tandem with a firming trend overseas.

Better demand at spot markets for the metal from consuming industries also influenced the trading sentiment.

At the MCX, copper for delivery in June traded 40 paise, or 0.09%, higher at Rs 424.35 per kg, with a business turnover of 29,281 lots.

Similarly, the metal for delivery in the August moved up by 25 paise, or 0.06%, to Rs 428.70 per kg in 1,680 lots.

Analysts said fresh buying by speculators in tandem with a firming global trend mainly led to a moderate recovery in copper prices at futures trade.

Meanwhile, copper for three-month delivery rose by $10 to $7,620 a tonne on the London Metal Exchange.