Copper futures gain 1.46% on global cues, spot demand

Buoyed by firm global cues, copper prices moved up by 1.46 per cent to Rs 389.25 per kg in futures trade today as traders widened their bets.
Furthermore, pick-up in demand at the domestic spot markets, too supported the upside in metal prices.
At Multi Commodity Exchange, copper for delivery in August rose by Rs 5.60 or 1.46 per cent to Rs 389.25 per kg in a business turnover of 35,559 lots.
Similarly, the metal for delivery in November contracts traded higher by Rs 5.35 or 1.37 per cent to Rs 395.35 per kg in 612 lots.
Analysts attributed the rise in copper futures to firm trend at the London Metal Exchange (LME) where it surged to over 4-month high.

Besides, uptick in demand from consuming industries at the domestic spot markets supported the upside, they said.