Copper marginally up on Asian cues

Copper futures traded a shade higher at Rs 411.70 per kg as speculators enlarged positions after base metal strengthened overseas amid pick-up in spot demand.

At the Multi Commodity Exchange, copper for delivery in November edged up by 65 paise, or 0.16%, to Rs 411.70 per kg in a business turnover of 724 lots.

Likewise, the metal for delivery in February 2015 traded higher by 45 paise, or 0.11%, to Rs 417.30 per kg in 25 lots.

Market analysts attributed the rise in copper futures to a firming trend overseas before factory output data from China and employment figures from the US.

Meanwhile, copper for delivery in three months traded little changed at $6,678 a tonne at the London Metal Exchange. In Shanghai, metal for January delivery rose 0.1% to 47,370 yuan ($7,732) per tonne.