Copper futures up on postive global cues

Copper traded marginally higher by 0.16% to Rs 404.50 per kg in futures trade today, supported by a firming trend in the base metals at the London Metal Exchange (LME) and pick-up in domestic spot demand. 

At the Multi Commodity Exchange, copper for delivery in June traded higher by 65 paise, or 0.16%, to Rs 404.50 per kg, with a business turnover of 6,426 lots. 

Similarly, the metal for delivery in August edged up by 55 paise, or 0.13%, to Rs 409.60 per kg, with an open interest of 732 lots.

Market analysts attributed the recovery in copper futures prices to a firming trend in copper at the LME after assurances from European officials that a solution will be found to Greece's debt crisis.

 

Meanwhile, copper for three-month rose 0.4% to $9,045 a tonne at the LME.