Copper futures rise 0.19% on global cues

Copper futures rose by 0.19 per cent to Rs 375.80 per kg today, as speculators enlarged their positions, taking firming global cues.  

Better demand for the metal at spot markets also supported the upside in copper futures here.  

Analysts said rise in copper futures was mostly attributed to a firming trend at overseas markets, where copper climbed to a 27-month high in London and New York, as demand prospects improved on expectations that the US Federal Reserve.

At the Multi Commodity Exchange platform, cooper for delivery in November contract traded 70 paise, or 0.19 per cent higher, to Rs 374 per kg, with a turnover of two lots.

 

It ended 0.5 per cent higher at Rs 373.30 per kg in the previous session.

Similarly, copper for delivery in February contract also rose by a similar margin to Rs 375.10 per kg, with a turnover of five lots.

Meanwhile, at the London Metal Exchange three month copper rose 0.33 per cent to $8,366 per tonne.