Copper up by 0.2% on global cues

Pick-up in demand at the domestic spot market also supported the upside in prices

Tracking a firm global trend, copper prices traded up by 0.15% to Rs 448.25 per kg in futures trade today as speculators created fresh positions.

 

At the Multi Commodity Exchange, copper for delivery in November rose by 0.65 paise, or 0.15%, to Rs 448.25 per kg in a business turnover of 2,038 lots.

 

Similarly, the metal for delivery in February edged up by 45 paise, or 0.10%, to Rs 458.75 per kg in 79 lots.

 

Analysts said a firming overseas trend as recent economic data added to signs of a recovery in the world's biggest user of the metal, mainly influenced copper prices at futures trade here.

 

Besides, pick-up in demand at the domestic spot market supported the upside in prices, they said.

 

Meanwhile, copper for delivery in three months advanced 0.6% to $7,191.50 a tonne on the London Metal Exchange.