Copper marginally up on global cues

Firm demand in the domestic market also pulled prices higher

Supported by a firming trend overseas and a pick-up in domestic demand, copper prices today rose by 0.26% in futures trade.

At the MCX, copper for delivery in June rose by Rs 1.05, or 0.26%, to Rs 411 per kg, with a turnover of 17,824 lots.

The August contract was up by 80 paise, or 0.19%, at Rs 415.85 per kg, with a trade volume of 1,458 lots.

Globally, three-month delivery copper rose 0.5% to $7,424.75 per tonne at the London Metal Exchange (LME) in early trade today.

Market analysts attributed the rise in copper futures trade to a recovery in metal at the LME on speculation that the US Federal Reserve will take more steps to safeguard the economic recovery, boosting demand for industrial metals.