Copper up 0.33% on global cues, spot demand

Speculators enlarge positions on firm trends abroad after unexpected surge in China's April exports and imports

Copper prices rose 0.33 per cent to Rs 406.70 per kg in futures trade today as speculators enlarged positions after base metals strengthened in the global market amid pick-up in spot demand.

At the Multi Commodity Exchange, copper for delivery in June edged up by Rs 1.35, or 0.32 per cent, to Rs 406.70 per kg in a business turnover of 695 lots.

The August contract traded higher by Rs 1.30, or 0.32 per cent, to Rs 410.25 per kg in five lots.

Market analysts attributed the rise in copper futures to a firming trend in the base metals pack in the global market after China's exports and imports unexpectedly rose in April.
 
Also, pick-up in demand in the spot market further fuelled the uptrend, they said.

Meanwhile, copper for delivery in three months was traded little changed at $6,660 a tonne at the LME.