Copper up by 0.9% on global cues

Rising domestic demand also helped prices

Copper prices were up 0.92% at Rs 365.90 per kg in futures trade today on positive cues from global markets and rising domestic spot demand.

At Multi Commodity Exchange, copper for delivery in November month contracts rose Rs 3.35, or 0.92%, to Rs 365.90 per kg, with a turnover of 573 lots.

Metal for delivery in far-month February next year contracts gained Rs 3.05, or 0.83%, at Rs 371.45 per kg in business volume of 12 lots.

Globally, copper for delivery in three months spurted 2.2% to $5,259 per tonne at the London Metal Exchange, while in Shanghai, the metal climbed 5.1%.

Market analysts said fresh positions created by participants tracking a firming trend overseas after China reported higher imports of the metal, coupled with rising demand in the spot markets, influenced copper prices.

Meanwhile, inventories of copper monitored by the LME fell for the sixth day, declining by 1.7%, exchange data showed.