Copper futures climb Rs 10.15 per kg on overseas trend

Amid a firming global trend and pick up in spot demand, copper prices spurted by Rs 10.15 to Rs 4,065 per kg in futures trade today as participants raised their bets.
At the Multi Commodity Exchange, copper for delivery in November was trading notably higher by Rs 10.15, or 2.56 per cent, to Rs 406 per kg, in a business volume of 4,225 lots.
Metal for delivery in February next year too gained Rs 9.45, or 2.36 per cent, to Rs 410.40 per kg, in a business turnover of 557 lots.
Marketmen attributed the rise in copper futures to a firming trend in base metals at the London Metal Exchange (LME) after a report showed orders for business equipment advanced in the US, bolstering the outlook for the metal amid optimism demand will accelerate.

Besides, rising demand from consuming industries at domestic spot markets supported the upside, they said.
Meanwhile, copper for delivery in three months rose 2.3 per cent, to trade at 16-month high at USD 5,740 per tonne at The metal has risen by 18 per cent in November.