Copper futures up 1.36% on positive global cues

Copper futures rose 1.36 per cent today to Rs 343.20 per kg as participants enlarged positions, taking positive cues from overseas markets and a pickup in spot demand.
At the Multi Commodity Exchange, copper for delivery in April was trading higher by Rs 4.60, or 1.36 per cent, to Rs 343.20 per kg, with a turnover of 3,486 lots.
Similarly, the metal for delivery in far-month June contract was up by Rs 4.10, or 1.21 per cent, at Rs 347.05 per kg, with a trade volume of 91 lots.
Globally, copper for three-month delivery surged as much as 1 per cent, to USD 5,120.9 per tonne on the London Metal Exchange (LME).

Market analysts attributed the rise in copper futures trade to a firming trend in the base metals pack at the LME as the recovery in China's property market accelerated, triggering optimism of demand recovery in the world's biggest commodities consumer.
Besides, pickup in spot demand also supported the upside, they said.