Copper rises margnally on global cues, spot demand

Metal gains about 0.1% on MCX as China sets economic growth targets and hopes abound that US Fed will persist with stimulus

Buoyed by a firm global trend and increased domestic demand, copper prices rose marginally by 0.10 per cent to Rs 435.35 per kg in futures trade today.     

At the Multi Commodity Exchange, copper for delivery in June traded higher by 45 paise, or 0.10 per cent to Rs 435.35 per kg in business turnover of 160 lots.     

April copper edged up by 35 paise, or 0.08 per cent to Rs 430.65 per kg in 3,422 lots.     

Market analysts said besides increased demand from consuming industries, a firming trend overseas as China, the biggest user, set its economic growth targets and speculation the US Federal Reserve will continue stimulus measures, mainly influenced copper prices at futures trade here.
      
Meanwhile, copper for delivery in three months climbed 0.7 per cent to $7,777 a tonne on the London Metal Exchange, at Shanghai Futures Exchange, the metal for June delivery rose 1 per cent to 56,860 yuan ($9,138) a tonne.