Copper rises by 0.3% on global cues

Copper prices rose marginally by 0.33% to Rs 485.10 per kg in futures trade today on the back of firm global cues.

 

At the Multi Commodity Exchange, copper for delivery in November traded higher by Rs 1.60, or 0.33%, to Rs 485.10 per kg in business turnover of 661 lots.

 

The metal for delivery in far-month February up by Rs 1.60, or 0.32% to Rs 494.40 per kg in 31 lots.

 

Globally, copper for delivery in three months climbed 0.70% to $7,155.75 per tonne on the London Metal Exchange.

 

Analysts said a firming overseas trend as investors await a US jobs report that may show rising employment in the world's second-biggest user of metals.

 

 

Besides, increased demand at domestic spot markets from consuming industries, also supported the upside in metal's prices, they said.