Copper futures rise on global cues, spot demand

Buoyed by a firm global trend and increased domestic demand, copper was prices up 0.26 per cent to Rs 458.25 per kg in futures trade today as speculators enlarged positions.
At the Multi Commodity Exchange, copper for delivery in February traded higher by Rs 1.20, or 0.26 per cent, to Rs 458.25 per kg in business turnover of 399 lots.
On the similar lines, metal for delivery in the far-month April edged up by Rs 1.10, or 0.24 per cent, to Rs 464 per kg in 17 lots.
Market analysts said besides increased demand from consuming industries, a firming trend overseas after China's central bank injected funds, helping ease surging financing costs, mainly influenced copper prices at futures trade here.

Meanwhile, copper for delivery in three months climbed 0.3 per cent to USD 7,262 a tonne on the London Metal Exchange, at Shanghai Futures Exchange, the metal for March delivery rose 0.3 per cent to 51,400 yuan (USD 8,466 a tonne.