Global cues, spot demand lift copper futures by 1.08%

Copper prices were up 1.08 per cent at Rs 399 per kg in futures trading today as speculators widened fresh positions amid positive global cues and pick up in spot demand at the domestic markets.
At the Multi Commodity Exchange, copper for delivery in February rose by Rs 4.25, or 1.08 per cent, to Rs 399 per kg in business turnover of 1,092 lots.
Similarly, the metal for delivery in far-month April contract traded higher by Rs 4.05, or 1.02 per cent, to Rs 401.40 per kg in nine lots.
Analysts attributed the rise in copper futures trade to a firm global trend where the metal led base metals higher as the US President Donald Trump reiterated plans to spend big on infrastructure amid weakness in the dollar.

Globally, copper for delivery in three-month climbed 1.6 per cent to USD 5,840 per tonne on the London Metal Exchange.