Copper futures strengthen on firming overseas trend

Buoyed by a firming trend on the London Metal Exchange and a pick-up in spot demand, copper was trading 0.54% higher at Rs 401.20 per kg in futures trade today.

The sentiment turned better as copper in global markets strengthened on improving demand from China and speculation that the US will announce additional measures to shore up its economy's recovery.

At the Multi Commodity Exchange, August copper was trading higher by Rs 2.15, or 0.54%, to Rs 401.10 per kg, with a business turnover of 11,309 lots.

November delivery edged up by Rs 1.90, or 0.47%, to Rs 405.65 per kg, with a turnover of 1,334 lots.

Meanwhile, three-month copper on the London Metal Exchange climbed by as much as 1.2% to $8,820 a metric tonne in early trade today.