Copper up by 0.8% on overseas cues

Pick up in spot demand at the domestic markets also helped prices

Riding on positive global cues and pick up in spot demand at the domestic markets, copper futures rose 0.81% to Rs 299 per kg today as participants strengthened their positions.

In futures trading at the Multi Commodity Exchange, copper for delivery in February contract was trading higher by Rs 2.40, or 0.81%, to Rs 299 per kg, with a turnover of 1,140 lots.

Similarly, the metal for delivery in far-month April contract was up by Rs 2.35, or 0.78%, at Rs 303.95 per kg, with a trade volume of three lots.

Globally, copper for three-month delivery surged as much as 0.2%, to $4,386.50 per tonne on the London Metal Exchange (LME).

Analysts attributed the rise in copper futures trade to a firming trend in the base metals pack at the LME after data showed China's economy expanding at 6.9% last year, close to the target set by the country's leadership and pick-up in spot demand.