Copper futures up by 0.92% on global cues, weaker rupee

Supported by a firm trend at the London Metal Exchange and a weaker rupee, copper futures prices rose by 0.92 per cent to Rs 377.30 per kg.

Firm trend at the spot markets following pick up in industrial demand also influenced copper futures prices here.

At the Multi Commodity Exchange counter, copper delivery for November rose by Rs 3.45 or 0.92 per cent to Rs 377.30 per kg, with a business turnover of 15 lots.

Similarly, the metal for delivery in December traded higher by Rs 3.35 or 0.89 per cent to Rs 380.85 per kg, with a business turnover of five lots.

Analysts said reports of firm trend in the entire base metals at the London Metal Exchange (LME)and stronger dollar, which made dollar-quoted commodity costlier, helped copper futures trade higher.

Meanwhile, copper for the three-month delivery gained 1.44 per cent to USD 8,271 a tonne on the LME.