Copper futures extend gains on global cues

Continuing its rising streak, copper rose by another 0.54 per cent to Rs 406.50 per kg in futures trading today as speculators engaged in enlarging their bets, largely in step with a firming trend in base metals overseas.
At the Multi Commodity Exchange, copper for delivery in February rose by Rs 2.20, or 0.54 per cent, to Rs 406.50 per kg, in a turnover of 727 lots.
Metal for delivery in far-month April also rose by Rs 2, or 0.49 per cent, to trade at Rs 410.95 per kg, with trade volume of 10 lots.
Analysts said gains in copper in global market as talks to end a major strike at Chile's Escondida mine, the world's biggest copper mine, are delayed and the US President Donald Trump repeated his promise of tax cuts, boosting investors risk appetite after robust US data, too supported the upside in metal prices at futures trade.

Globally, copper on the London Metal Exchange closed 0.7 per cent up at USD 6,065 per tonne.