Copper up 0.02% on global cues, spot demand

Tracking a firming trend in global markets, copper futures traded a shade higher at Rs 416.45 per kg today as speculators enlarged positions.

At the Multi Commodity Exchange, copper for delivery in November rose by 20 paise, or 0.02%, to Rs 416.45 per kg, with a business turnover of 294 lots.

Similarly, the metal for delivery in February next year traded higher by 10 paise, or 0.02%, to Rs 423 per kg, with a business turnover of four lots.

Marketmen said apart from a firming trend in base metals, better demand from domestic industries at spot markets, influenced copper prices at futures trade here.

Meanwhile, copper for delivery in three months traded a shade higher at $6,714 per tonne at the London Metal Exchange, while trading on the Shanghai Futures Exchange will resume tomorrow after a week-long public holiday.