Copper futures strengthens on global cues

Copper futures prices moved up by 0.13 per cent to Rs 380.75 per kg today in tandem with a firm trend at the London Metal Exchange (LME).

At the Multi Commodity Exchange counter, copper for delivery in February rose by 65 paise, or 0.13 per cent, to Rs 380.75 per kg, with a business turnover of 74 lots.

Similarly, the metal for delivery in November traded higher by 55 paise, or 0.07 per cent, to Rs 376.90 per kg, with a business turnover of 1,095 lots.

It closed at Rs 376.35 per 4 kg, up 0.88 per cent from the previous session.

Analysts said reports of a firm trend at overseas markets on expectations that the Federal Reserve may announce further stimulus for the US economy, which would buoy demand for commodities, influenced copper futures here.
Meanwhile, copper for the three-month delivery gained 0.11 per cent, to $8,420 a metric tonne on the LME.