Copper up by 0.5% on global cues

Copper futures traded 0.49% higher at Rs 316.60 per kg today as speculators widened their positions, largely in tandem with a firming trend overseas.

At the Multi Commodity Exchange, copper for delivery in April rose Rs 1.55, or 0.49%, to Rs 316.60 per kg, in a turnover of 509 lots.

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Metal for delivery in far-month June also rose Rs 1.35, or 0.42%, to trade at Rs 321.25 per kg, with trade volume of three lots.

Analysts said gains in copper and other metals in global market and rising demand at the domestic spot markets influenced metal prices at futures trade.

Globally, copper for three-month delivery rose 0.3% to $4,775 per tonne at the London Metal Exchange (LME).