Copper up on spot demand, global cues
Copper prices rose by Rs 2.65 to Rs 417.70 per kg in futures trade today as traders enlarged their positions in tandem with a firming global trend.
At the Multi Commodity Exchange, copper for delivery in June gained Rs 2.65, or 0.64%, to Rs 417.70 per kg, with a business turnover of 7,428 lots.
August copper added Rs 2.55, or 0.61%, to Rs 422 per kg, with an open interest of 6,387 lots.
Market analysts said increased buying by traders in tandem with a firming trend in overseas market mainly led to rise in copper futures prices.
Meanwhile, copper for three-month delivery climbed by 0.3% to USD 9,345 a tonne on the London Metal Exchange.