Copper up by 0.2% on strong global cues

Besides, pick-up in demand at the domestic market also supported the upside

Buoyed by a firming trend in global markets as inventories tracked by the London Metal Exchange continued falling, copper futures prices rose 0.18% to Rs 474.45 per kg today as speculators enlarged positions.

At the Multi Commodity Exchange, copper for delivery in far-month April was up by 85 paise, or 0.18%, to Rs 474.45 per kg, with a business turnover of 22 lots.

Similarly, the metal for delivery in February traded higher by 80 paise, or 0.17%, to Rs 469.40 per kg, with a business turnover of 374 lots.

Marketmen said a firming trend overseas following falling inventories monitored by the London Metal Exchange (LME) influenced copper prices at futures trade here.

Besides, pick-up in demand at the domestic market supported the upside, traders said.

Meanwhile, LME inventories fell to 3,66,425 tonnes on December 31, the lowest since Jan 28, exchange data showed.

Globally, copper for delivery in three months climbed 1% to $7,430 per tonne at the LME, the highest intra-day level since June 6, while at Shanghai, the metal advanced 0.3% to 52,460 yuan ($8,669) per tonne.