Copper futures recover on global cues

Copper futures prices rose by 0.30 per cent to Rs 422.65 per kg today supported by firm trends at global markets on signs of US economic recovery.

Rising demand at domestic spot markets also influenced copper futures prices.

At the Multi Commodity Exchange counter, copper delivery for February edged up by Rs 3.30, or 0.30 per cent to Rs 422.65 per kg, with a business turnover of 12 lots.

Similarly, the metal for delivery in April traded higher by Rs 1.15, or 0.27 per cent, to Rs 422.75 per kg, with a business turnover of just two lots.

Analysts said reports of firm trend in copper at the London Metal Exchange on speculation that the recovering global economy would boost demand for metals, supported the upside in copper futures here.

Meanwhile, copper in New York gained as much as 1.6 per cent  to $4.2235 an ounce.