Copper futures rise 1.43% on global cues

Copper futures today rose by Rs 5, or 1.43 per cent, to Rs 354.25 per kg after speculators enlarged their positions, buoyed by firming global trend.

At the Multi Commodity Exchange, the November contracts traded higher by Rs 5, or 1.43 per cent, at Rs 354.25 per kg, with a business volume of 33.928 lots.

The contracts for delivery in February also gained Rs 4.85, or 1.38 per cent, to Rs 356 per kg, with a turnover of 1,419 lots.

Analysts said copper futures strengthened in line with their prices at the London Metal Exchange, where the metal for three-month delivery rose by 2 per cent to $7,585 a tonne.

 

Besides, increased demand at the domestic spot markets also supported the upside in copper at futures market here, they said.