Copper futures rise on positive global cues

Buoyed by a firm global trend and increased domestic demand, copper prices rose 0.78 per cent to Rs 337.95 per kg in futures trade today as participants widened their speculative bets.
In futures trading at the Multi Commodity Exchange, copper for delivery in far-month June was trading Rs 2.60, or 0.78 per cent higher, at Rs 337.95 per kg, in a business turnover of 12 lots.
Metal for delivery in April edged higher by Rs 2.25, or 0.68 per cent, to Rs 333.40 per kg, in a business volume of 759 lots.
Globally, copper for delivery in three months rose 0.6 per cent to USD 4,884.50 a tonne on the London Metal Exchange (LME).

Analysts said that apart from pick-up in domestic demand, a firming overseas trend as copper extended its climb to the highest level in almost four months on continued optimism that policy makers in China will unveil more measures to bolster growth in the largest consumer of metals mainly influenced prices.