 "Copper up 1.2% on global cues")
Copper prices moved up by Rs 4.05 to Rs 344.95 per kg in futures trade today as speculators created fresh positions on firm global cues.
At the Multi Commodity Exchange, copper for delivery in February traded higher by Rs 4.05, or 1.19%, to Rs 344.95 per kg in a turnover of 804 lots.
Likewise, the metal for delivery in far-month April edged up by Rs 3.85, or 1.12%, to Rs 349.10 per kg in 32 lots.
Further, pick up in demand from consuming industries at domestic spot markets supported the upside, they said.
Globally, copper for delivery in three months rose 1.1%, to $5,560 per tonne at the London Metal Exchange (LME).
The metal for delivery in April rose 1% to 40,690 yuan ($6,502) a tonne on the Shanghai Futures Exchange.
At the Multi Commodity Exchange, copper for delivery in February traded higher by Rs 4.05, or 1.19%, to Rs 344.95 per kg in a turnover of 804 lots.
Likewise, the metal for delivery in far-month April edged up by Rs 3.85, or 1.12%, to Rs 349.10 per kg in 32 lots.
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Analysts attributed the rise in copper futures to a firm global trend after crude oil climbed to the highest level in almost a month, increasing the expense of mining and processing metals.
Further, pick up in demand from consuming industries at domestic spot markets supported the upside, they said.
Globally, copper for delivery in three months rose 1.1%, to $5,560 per tonne at the London Metal Exchange (LME).
The metal for delivery in April rose 1% to 40,690 yuan ($6,502) a tonne on the Shanghai Futures Exchange.
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