Copper futures rise 0.48 pc on spot demand, global cues

Amid pick-up in demand at domestic spot market and positive global cues, copper prices edged higher by 0.48 per cent to Rs 384.80 per kg in futures trade today as traders built up fresh positions.
At Multi Commodity Exchange, copper for delivery in February inched up by Rs 1.85, or 0.48 per cent, to Rs 384.80 per kg in a business turnover of 268 lots.
Likewise, the metal for delivery in far-month April traded higher by Rs 1.80, or 0.47 per cent, to Rs 388.20 per kg in one lot.
Analysts said besides pick-up in demand from consuming industries in the spot market, gains in most industrial metals overseas, influenced copper prices at futures trade.