Copper up 0.3% on strong global cues

Metal for delivery in November was up by 0.27%

Taking positive cues from the overseas markets and a pick-up in spot demand, copper futures prices today rose by 0.35% to Rs 469.60 per kg.

At the Multi Commodity Exchange, copper for delivery in February last year rose Rs 1.65, or 0.35%, to Rs 469.60 per kg, to Rs 469.50 per kg, with a turnover of 201 lots.

Similarly, the metal for delivery in November was up by Rs 1.25, or 0.27%, at Rs 458.25 per kg, with a trade volume of 2,889 lots.

Globally, copper for three-month delivery up by 0.6% to USD 7,206.75 a tonne on the London Metal Exchange (LME), while at Shanghai Futures Exchange, January next year's contract rose 0.50% to 51,700 yuan USD 8,464 per tonne.

Market analysts attributed the rise in copper in futures trade to a firming trend on the LME on better-than-estimated Chinese and US economic data bolstered the demand outlook in the world's two biggest users of the metal.