Copper futures rise on global cues, spot demand
Copper prices rose by Rs 2.80 to Rs 413.15 per kg in futures trade today as speculators created fresh positions, influenced by a firming global trend.
At the Multi Commodity Exchange, copper for delivery in November rose by Rs 2.80, or 0.68%, to Rs 413.15 per kg, with a business turnover of 2,099 lots.
Similarly, the metal for delivery in August gained Rs 2.65, or 0.65%, to Rs 408.90 per kg, with an open interest for 13,963 lots.
Marketmen said fresh buying by speculators in tandem with a firming global trend mainly pushed up copper futures prices.
Meanwhile, copper for three-month delivery added 0.4% to $8,908.50 a tonne on the London Metal Exchange.