Copper futures rise 0.23 pc on spot demand, global cues

Copper rose by 0.23 per cent to Rs 422.70 per kg in futures trading today as speculators enlarged positions on the back of pick up in demand from consuming industries in the spot market amid a firming global trend.
At the Multi Commodity Exchange, copper for delivery in far-month February next year rose by 95 paise, or 0.23 per cent to Rs 422.70 per kg in business turnover of 29 lots.
In a similar fashion, the metal for delivery in November moved up by 75 paise, or 0.18 per cent to Rs 416 per kg in 8,229 lots.
Market analysts said besides pick up in demand from consuming industries in the spot market, a firming trend overseas mainly led to the rise in copper prices at futures trade here.

Meanwhile, copper rose 0.4 per cent to USD 6,696 a tonne on the London Metal Exchange.