Copper strengthens on firm global cues

Copper futures rose by Rs 1.70 or 0.41% today on speculative buying buoyed by a firming trend on the London Metal Exchange.

At the Multi Commodity Exchange, copper for delivery in February rose by Rs 1.70, or 0.41%, to Rs 413.40 per kg, with a business volume of 6,403 lots.

The April contract moved up by similar margin to quote at Rs 418.45 per kg, with a trading volume of 492 lots.

Analysts said a firming trend on the London Metal Exchange besides increased demand from consuming domestic industries boosted sentiments.

Copper for delivery in three months was trading 0.14% higher at $8,356.75 per tonne on the LME in early trade today.