Copper futures rose 0.37 per cent today to Rs 392.20 per kg as participants enlarged positions, taking positive cues from overseas markets and a pick-up in spot demand. At the Multi Commodity Exchange, copper for delivery in far-month June was trading higher by Rs 1.45, or 0.37 per cent, to Rs 392.20 per kg, with a turnover of eight lots. Similarly, the metal for delivery in April contract was up by Rs 1.40, or 0.36 per cent, at Rs 388.20 per kg, with a trade volume of 1,796 lots. Globally, copper for three-month delivery surged as much as 0.8 per cent, to close at USD 5,865 per tonne on the London Metal Exchange (LME) in yesterday's trade. Market analysts attributed the rise in copper futures trade to a firming trend in the base metal at the LME, supported by a weaker dollar and continuing supply concerns, including stoppages at the world's two biggest mines. Besides, pick-up in spot demand also supported the upside, they said.
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