 "Copper up on global cues, spot demand")
Buoyed by a firming trend in global markets, copper futures rose by 0.26% to Rs 448.90 per kg today as speculators enlarged positions.
Besides, a pick-up in demand at spot markets also supported the upside.
At the Multi Commodity Exchange, copper for delivery in February next year was up by Rs 1.15, or 0.26%, to Rs 448.90 per kg, with a business turnover of 684 lots.
Marketmen attributed the rise in copper futures to a firming overseas trend after the Asian Development Bank raised China's 2013 economic growth forecast to 7.7% from 7.6% in October and increased its 2014 estimate to 7.5% from 7.4%.
Globally, copper for the metal for delivery in three months traded a shade higher at $7,155.50 per tonne at the London Metal Exchange, while on the Shanghai Futures exchange it rose 0.2% to 51,200 yuan ($8,433) a tonne.
Besides, a pick-up in demand at spot markets also supported the upside.
At the Multi Commodity Exchange, copper for delivery in February next year was up by Rs 1.15, or 0.26%, to Rs 448.90 per kg, with a business turnover of 684 lots.
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Similarly, the metal for delivery in April 2014 traded 85 paise, or 0.19%, higher at Rs 454.55 per kg, with a business turnover of 7 lots.
Marketmen attributed the rise in copper futures to a firming overseas trend after the Asian Development Bank raised China's 2013 economic growth forecast to 7.7% from 7.6% in October and increased its 2014 estimate to 7.5% from 7.4%.
Globally, copper for the metal for delivery in three months traded a shade higher at $7,155.50 per tonne at the London Metal Exchange, while on the Shanghai Futures exchange it rose 0.2% to 51,200 yuan ($8,433) a tonne.