Copper futures rise 0.71% on global cues, spot demand

Taking positive cues from overseas markets, copper prices moved up by 0.71 per cent to Rs 339.95 per kg in futures trade today as speculators created fresh positions.
Besides, pick up in demand from consuming industries in the spot market supported the upside.
At the Multi Commodity Exchange, copper for delivery in far-month June rose by Rs 2.40, or 0.71 per cent, to Rs 339.95 per kg in a business turnover of 13 lots.
Similarly, the metal for delivery in April traded higher by Rs 2.20, or 0.66 per cent, to Rs 335.10 per kg in 835 lots.
Analysts attributed the rise in copper at futures trade to a firm global trend in industrial metals after the dollar weakened and analysts in Australia said the worst of the commodities rout may be over.

Furthermore, rising demand from consuming industries at the domestic markets too supported the up-move in copper futures here, they said.
Globally, copper for delivery in three months rose by one per cent at the London Metal Exchange.