Copper futures up on global cues, spot demand

Rising for the third straight day, copper prices gained 0.86 per cent to Rs 294.40 per kg in futures trade today as participants widened their positions, tracking a firm global trend.
At the Multi Commodity Exchange, copper for delivery in February month advanced by Rs 2.50, or 0.86 per cent to Rs 294.40 per kg in business turnover of 15,811 lots.
Similarly, the metal for delivery in far-month April went higher by Rs 2.45, or 0.82 per cent, to Rs 299.65 per kg in 251 lots.
Analysts said a firming trend in base metals in global markets on expectations that demand may be improving in China, mainly kept copper prices higher at futures trade.

Meanwhile, copper for delivery in three month rose 0.3 per cent to 34,930 yuan a metric tonne in Shanghai, while prices on the London Metal Exchange were little changed after hitting a 2009 low.