 "Copper up 0.6% on global cues, spot demand")
Copper prices rose by 0.59% to Rs 408.30 per kg in futures trade today as speculators enlarged positions after metal gained for the third session in global market.
At the Multi Commodity Exchange, copper for delivery in June edged up by Rs 2.40, or 0.59%, to Rs 408.30 per kg in business turnover of 1,355 lots.
Likewise, the metal for delivery in August traded higher by Rs 2.05, or 0.50%, to Rs 411.25 per kg in 82 lots.
Also, pick-up in demand in the spot market further fuelled the uptrend, they said.
Meanwhile, copper rose 0.3% to USD 6,711.50 a metric tonne on the London Metal Exchange, while in Shanghai metal for delivery in August advanced 0.4% to 48,210 yuan(USD 7,744) a metric tonne.
At the Multi Commodity Exchange, copper for delivery in June edged up by Rs 2.40, or 0.59%, to Rs 408.30 per kg in business turnover of 1,355 lots.
Likewise, the metal for delivery in August traded higher by Rs 2.05, or 0.50%, to Rs 411.25 per kg in 82 lots.
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Market analysts attributed the rise in copper futures to a rise in the global market amidst speculation that demand will stabilise in China and the US, the world's largest metal consumers.
Also, pick-up in demand in the spot market further fuelled the uptrend, they said.
Meanwhile, copper rose 0.3% to USD 6,711.50 a metric tonne on the London Metal Exchange, while in Shanghai metal for delivery in August advanced 0.4% to 48,210 yuan(USD 7,744) a metric tonne.
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