Copper gains 0.4% on global cues

Buoyed by firming global trends, copper prices rose by Rs 2.10 to Rs 437.05 per kg in futures trade today as speculators created fresh positions.

Rising demand from consuming industries in the spot market also influenced trading sentiment.

At the Multi Commodity Exchange, copper for delivery in June rose by Rs 2.10, or 0.44%, to Rs 437.05 per kg in business turnover of 433 lots.

The April contract moved up by Rs 1.75, or 0.41% to Rs 432.55 per kg in 5,893 lots.

Analysts said fresh buying by speculators in tandem with a firming global trend mainly led to rise in copper prices at futures trade.

 

Meanwhile, copper for three-month metal rose 0.5% to $8,670 a tonne on the London Metal Exchange.