Copper futures up 0.57% on global cues
Buoyed by a firming trend overseas, copper futures rose by 0.57% to Rs 425.15 per kg today.
At the Multi Commodity Exchange, February copper rose by Rs 2.40, or 0.57%, to Rs 425.15 per kg, with a business turnover of 2,570 lots.
The April delivery gained Rs 2.05, or 0.48%, to Rs 424.80 per kg, with a business turnover of 258 lots.
Analysts attributed the rise in copper futures to a firming trend in global markets on the back of better-than-expected US data and signs of credit easing in China, which boosted the demand outlook from the largest consumer.
Copper futures for three-month rose by 1.6% to $8,372 per tonne on the London Metal Exchange, the highest since September 21, while the metal for April delivery on the Shanghai Futures Exchange gained 1.7% to 60,460 yuan ($9,578) a tonne.