Copper futures rise on positive global cues

Copper futures prices rose 0.24 per cent to Rs 471.30 per kg today, as traders enlarged their positions, driven by firming trend overseas on hopes that the economic recovery would boost demand outlook for the metal. 

At the Multi Commodity Exchange, copper delivery for June gained Rs 1.15, or 0.24 per cent to Rs 471.30 per kg, with a business volume of single lot. 

Likewise, the metal for delivery in February contract traded higher by 60 paise, or 0.13 per cent to Rs 465.10 per kg, with a business volume of one lot.    

Analysts said the fresh rise in copper futures was mostly attributed to firming trend at the London Metal Exchange (LME) as the global economic recovery gathers pace, boosting the demand outlook for the metal. 

Meanwhile, at the London Metal Exchange, copper for three-month delivery climbed 0.5 per cent to $10,097 a metric tonne.