Copper rises marginally on global cues

Pick up in demand at the domestic spot market supports uptrend

Buoyed by a firming trend in global markets, copper futures prices rose by 0.30% to Rs 421.90 per kg today as speculators enlarged positions.

At the Multi Commodity Exchange, copper for delivery in November rose by Rs 1.25, or 0.30%, to Rs 421.90 per kg, with a business turnover of 9,091 lots.

February copper traded higher by Rs 1.30, or 0.30%, to Rs 428.20 per kg, with a business turnover of 725 lots.

Marketmen said a firming trend overseas on buying at prevailing levels ahead of China's October economic data influenced copper prices at futures trade here.

Pick up in demand at the domestic spot market supported the uptrend, traders said.

Meanwhile, copper for delivery in three months climbed 0.5% to $7,687 per tonne on the London Metal Exchange.