Copper recover on positive global cues
Firming spot demand also influenced prices
Taking positive cues from overseas markets and increased domestic demand, copper prices recovered marginally by 0.14% to Rs 431.20 per kg in futures trade today as speculators enlarged their positions.
At the MCX, copper for delivery in August gained 60 paise, or 0.14%, to Rs 431.20 per kg, with a business turnover of 1,348 lots.
Likewise, the metal for delivery in June traded higher by 45 paise, or 0.11%, to Rs 426.75 per kg in 16,853 lots.
Analysts said that copper rebounded from a four-month low on the London Metal Exchange supported by Chinese growth optimism which strengthened the trend at the exchange.
Copper climbed 1.2% to $7,622.75 a tonne at the LME.
A firming trend at the domestic spot markets also influenced prices along with weakness in the rupee, they said.