Copper up on global cues

Copper prices rose by Rs 1.55 to Rs 419.85 per kg in futures trade today as speculators created fresh positions on the back of a firm global trend.

At the Multi Commodity Exchange, February copper rose by Rs 1.55, or 0.37% to Rs 419.85 per kg in a business turnover of 708 lots.

The November contract edged up by Rs 1.50, or 0.36% to Rs 415.55 per kg in 17,883 lots.

Market analysts said fresh buying by speculators in tandem with a firm global trend mainly led to the rise in copper futures prices.

Meanwhile, copper for three-month climbed 1.1% to $8,727 per metric tonne on the London Metal Exchange.