Copper futures rise 0.98 pc on global cues; spot demand

Copper prices went up by 0.98 per cent to Rs 453.55 per kg in futures trade Wednesday as speculators raised bets amid positive global cues and pick-up in demand in the spot market.

Copper for delivery in November was trading higher by Rs 4.40, or 0.98 per cent, to Rs 453.55 per kg in a business turnover of 2,483 lots at the Multi Commodity Exchange.

Analysts said widening of positions by participants, tracking a firm trend overseas and uptick in demand from consuming industries in the physical market mainly attributed the rise in copper prices in futures trade.