Copper futures up 0.09% on global cues

Copper prices edged higher by 0.09 per cent to Rs 383.55 per kg in futures trade today as speculators widened positions, tracking a firm trend overseas amid pick up in domestic demand.
At the Multi Commodity Exchange, copper for delivery in November month edged up by 35 paise, or 0.09 per cent to Rs 383.55 per kg in business turnover of 21,137 lots.
Likewise, the metal for delivery in far-month February 2017 also traded higher by just 5 paise, or 0.01 per cent to Rs 388.40 per kg in 1,042 lots.
Analysts said besides firming trend overseas where copper posted the highest closing price since July 2015 amid a broad rally in commodities on expectations of a pick-up in global manufacturing and infrastructure spending, mainly buoyed sentiment here.

Globally, copper for delivery in three months rose 1 per cent to USD 5,613 a metric tonne on the London Metal Exchange.
Besides, increased demand from consuming industries in the spot markets fuelled the uptrend, they said.