Copper marginally up on global cues

Increased domestic demand also helped prices

Buoyed by a firm global trend and increased domestic demand, copper futures traded a shade higher at Rs 346.15 per kg today.

At the Multi Commodity Exchange, copper for delivery in far-month February next year was trading 30 paise, or 0.09% higher, at Rs 346.15 per kg in business volume of four lots.

Similarly, the metal for delivery in November was up by 25 paise, or 0.07%, to Rs 339.85 per kg in 722 lots.

Traders said firming trend in base metals overseas and rising demand at domestic market from consuming industries, supported the upside in copper futures here.

Globally, copper for delivery in three months climbed 1% at the London Metal Exchange, while in Shanghai, metal for January delivery gained 0.6%.
 

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