Copper gains 0.5% on spot demand, global cues
Speculators enlarge positions on higher offtake from consuming industries; metal gains 0.4% on LME
 "Copper gains 0.5% on spot demand, global cues")
Copper prices gained 0.51 per cent to Rs 456.10 per kg in futures trade today as speculators enlarged positions, supported by pick up in demand from consuming industries amid a firming global trend.
At the Multi Commodity Exchange, copper for delivery in February rose by Rs 2.30, or 0.51 per cent to Rs 456.10 per kg in business turnover of 3,011 lots.
April copper gained Rs 2.25, or 0.49 per cent to Rs 460.85 per kg in 62 lots.
Firm global trend as stockpiles declined amid disruptions in Indonesia, further fuelled the uptrend, they said.
Meanwhile, copper for delivery in three months gained 0.4 per cent to $7,236.50 a metric tonne on the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in February rose by Rs 2.30, or 0.51 per cent to Rs 456.10 per kg in business turnover of 3,011 lots.
April copper gained Rs 2.25, or 0.49 per cent to Rs 460.85 per kg in 62 lots.
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Market analysts said speculators enlarged their positions due to pick up in demand from consuming industries in the spot market mainly led to rise in copper prices at futures trade.
Firm global trend as stockpiles declined amid disruptions in Indonesia, further fuelled the uptrend, they said.
Meanwhile, copper for delivery in three months gained 0.4 per cent to $7,236.50 a metric tonne on the London Metal Exchange.