Copper futures rises 0.68% on firm global cues

Supported by a firming trend in the base metals at the London Metal Exchange (LME) and pick-up in domestic spot demand, copper prices recovered by 0.68% to Rs 409.40 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in June rose by Rs 2.75, or 0.68%, to Rs 409.40 per kg, with a business turnover of 4,850 lots. It had lost 0.48% to Rs 406.65 per kg in the previous session.

August copper gained Rs 2.80, or 0.68%, to Rs 414.95, with a business turnover of 329 lots.

Market analysts said the recovery in copper futures prices was mostly due to a firming trend at the LME, where the metal rose by 2% in early trade today.