Copper futures strengthens on global cues

Copper prices rose by Rs 2.60 to Rs 456.10 per kg in futures trade today as speculators created fresh positions on the back of a firming global trend.

At the Multi Commodity Exchange, copper for delivery in June rose by Rs 2.60, or 0.57 per cent, to Rs 456.10 per kg, with a business turnover of two lots.

Similarly, the metal for delivery in February gained Rs 2.35, or 0.53 per cent, to Rs 447.80 per kg, with an open interest of three lots.

Market analysts said fresh positions created by speculators in tandem with a firming trend at London Metal Exchange (LME), mainly led to rise in copper futures prices.

 

Meanwhile, copper for three-month delivery contract rose by 0.3 per cent to $9,887 a tonne on the LME.