 "Copper rises by 1.1% on global cues")
Taking positive cues from overseas markets, copper prices moved up by 1.12% to Rs 332.80 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 August month rose by Rs 3.70, or 1.12% to Rs 332.80 per kg in business turnover of 982 lots.
Analysts attributed the rise in copper at futures trade to a firm global trend after comments from a Federal Reserve member added to doubts about the US raising interest rates in September and as China's stock market halted the steepest five-day rout since 1996.
Meanwhile, copper for delivery in three months traded 1.3% higher at $4,996.50 a metric tonne on the London Metal Exchange.
Besides, pick up in demand from consuming industries in the spot market supported the upside.
At the Multi Commodity Exchange, copper for delivery in August month rose by Rs 3.70, or 1.12% to Rs 332.80 per kg in business turnover of 982 lots.
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Similarly, the metal for delivery in far-month November traded higher by Rs 3.05, or 0.92% to Rs 336.25 per kg in 121 lots.
Analysts attributed the rise in copper at futures trade to a firm global trend after comments from a Federal Reserve member added to doubts about the US raising interest rates in September and as China's stock market halted the steepest five-day rout since 1996.
Meanwhile, copper for delivery in three months traded 1.3% higher at $4,996.50 a metric tonne on the London Metal Exchange.
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