Copper rises 0.54% in futures trade on global trend

Supported by firming trend at the London Metal Exchange, copper traded Rs 1.65 or 0.54 per cent higher to Rs 307.85 per kg in futures trade today.

Good demand at physical markets also influenced copper prices at futures market here. On the Multi Commodity Exchange platform, copper for delivery in August contract gained Rs 1.65 or 0.54 per cent, to Rs 307.85 per kg, with a business volume of 4,802 lots.

It had ended 0.20 per cent down at Rs 306.20 per kg in the previous session. The metal for delivery in far-month November contract also traded higher by Rs 1.55 or 0.50 per cent, to Rs 311.05 per kg, with a turnover of 2 lots. 

At the London Metal Exchange platform, the three-month delivery for copper gained as much as 0.77 per cent at $6,548 a tonne in early trade today, after falling nearly 3 per cent in the previous session.

Analysts said positive trend at the London Metal Exchange after reports that said Chile's Coldelco would halt extraction at its unit, helped pick up the demand, making copper to trade higher in futures trade here.