 "Copper rises marginally on spot demand, global cues")
Copper prices traded higher by 0.11% to Rs 408.90 per kg in futures trade today on increased buying by speculators driven by firm global trend and pick up in demand in the spot market.
At the Multi Commodity Exchange (MCX), the June contract edged up by 45 paise, or 0.11% to Rs 408.90 per kg in 25,556 lots.
The August contract traded higher by similar margin to Rs 414.10 per kg in 1917 lots.
Also, pick up in demand in the spot market further fuelled the uptrend, they said.
Meanwhile, copper rose 0.3% to $7,323.25 a tonne on the London Metal Exchange (LME).
At the Multi Commodity Exchange (MCX), the June contract edged up by 45 paise, or 0.11% to Rs 408.90 per kg in 25,556 lots.
The August contract traded higher by similar margin to Rs 414.10 per kg in 1917 lots.
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Market analysts attributed the rise in copper futures to firm global trend amid concerns that an accident at the world's second-biggest mine may curb supply as the US economy shows signs of recovery.
Also, pick up in demand in the spot market further fuelled the uptrend, they said.
Meanwhile, copper rose 0.3% to $7,323.25 a tonne on the London Metal Exchange (LME).
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