Copper futures up on global cues; spot demand

Copper futures prices rose by 0.15% today, as speculators built up fresh positions, driven by a firm trend in global markets.

Pick up in demand at domestic spot markets from consuming industries also influenced copper futures here.

At the Multi Commodity Exchange, copper delivery for June edged up by 65 paise, or 0.15%, to Rs 441.45 per kg, with a business turnover of 505 lots.

Similarly, the metal for delivery in April traded higher by 30 paise, or 0.07%, to Rs 436.60 per kg, with a business turnover of 3,991 lots. It ended 3.5% higher at Rs 436.30 per kg in yesterday's trade.

Meanwhile, three-month London copper was trading a shade higher at $9,555 a tonne, while it shot up by 3% in New York yesterday.

Analysts said trading sentiments in copper futures turned better as the metal strengthened in overseas markets and pick up in demand at the domestic spot markets.