Copper futures marginally up on global cues

Copper futures rose by 0.39% today as speculators engaged in creating positions, buoyed by a firming trend on the London Metal Exchange.

At the Multi Commodity Exchange, copper for delivery in February rose by Rs 1.65, or 0.39%, to Rs 425.65 per kg, with a business volume of 2,233 lots.

The metal for delivery in April moved up by Rs 1.55, or 0.36%, to Rs 429.10 per kg, with a trading volume of 302 lots.

Analysts said sentiment in copper futures improved after the metal strengthened on the London Metal Exchange (LME) on the back of a better-than-expected US economic data and improving situation in Europe, improving the outlook for metals demand.

Copper for delivery in three months was trading higher at $8,364 per tonne on the LME in early trade today.