Copper futures up 1.14% on global cues

Buoyed by stronger-than-expected Chinese industrial output data, copper prices gained Rs 4, or 1.14 per cent, to Rs 355.60 per kg in futures trade today.

A pick-up in demand from industrial units, as well as domestic spot markets, supported the upside in copper futures.

Analysts said the firming trend in base metals overseas after reports of stronger-than-estimated Chinese industrial output and retail sales data also influenced copper futures.

At the Multi Commodity Exchange counter, far-month February contracts shot up by Rs 4, or 1.14 per cent, to Rs 355.60 per kg in a turnover of 2,178 lots.

Likewise, the metal for delivery in November also gained Rs 3.95, or 1.13 per cent, to Rs 353.35 per kg, with a turnover of 31,722 lots.

 

Meanwhile, three-month copper prices shot up by 1.5 per cent to $7,599 dollar a tonne at the London Metal Exchange.