 "Copper up by 0.1% on positive global cues")
Copper futures rose 0.15% today to Rs 365.20 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 November was trading higher by 55 paise, or 0.15%, to Rs 365.20 per kg, with a turnover of 25 lots.
Similarly, the metal for delivery in August contract was up by 45 paise, or 0.13%, at Rs 358.55 per kg, with a trade volume of 1,254 lots.
Market analysts attributed the rise in copper futures trade to a firming trend in the base metals pack on the LME on better-than-expected growth in China's economy in the second quarter, boosting demand prospects in the world's biggest metals consumer.
Meanwhile, Chinese gross domestic product expanded 7% in the second quarter from a year earlier, beating estimates for a 6.8% increase, while June industrial-production and retail-sales growth topped economists' projections.
Besides, pickup in spot demand also supported the upside, they said.
At the Multi Commodity Exchange, copper for delivery in November was trading higher by 55 paise, or 0.15%, to Rs 365.20 per kg, with a turnover of 25 lots.
Similarly, the metal for delivery in August contract was up by 45 paise, or 0.13%, at Rs 358.55 per kg, with a trade volume of 1,254 lots.
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Globally, copper for three-month delivery added 0.4%, to $5,587 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 on the LME on better-than-expected growth in China's economy in the second quarter, boosting demand prospects in the world's biggest metals consumer.
Meanwhile, Chinese gross domestic product expanded 7% in the second quarter from a year earlier, beating estimates for a 6.8% increase, while June industrial-production and retail-sales growth topped economists' projections.
Besides, pickup in spot demand also supported the upside, they said.