Copper futures up on global cues

Supported by a firming trend in the base metals at the London Metal Exchange and pick-up in spot demand, copper prices rose by another 0.32% to Rs 410.20 per kg in futures trade today. 

At the Multi Commodity Exchange, copper for delivery in August rose by Rs 1.30, or 0.32% to Rs 410.20 per kg, with a business turnover of 289 lots. It had lost 1.1% to Rs 417 per kg in the previous session.

Similarly, the metal for delivery in June gained Rs 1.25, or 0.31% to Rs 404.75 per kg, with a business turnover of 2,362 lots. It had closed 0.30% higher at Rs 403.50 per kg in the previous session.

 

Market analysts said the recovery in copper prices at futures trade was mostly due to a firming trend at London Metal Exchange, where a weaker dollar spurred demand for metals and other commodities.