Copper futures firm up on domestic demand, global cues

Copper prices rose by 0.69 per cent to Rs 326.70 per kg in futures trade today as speculators built up fresh positions amid rising demand in domestic spot markets.

Besides, a firming trend in the base metals overseas too supported the upmove.

In futures trading at the Multi Commodity Exchange, copper for delivery in November rose by Rs 2.25, or 0.69 per cent, to Rs 326.70 per kg, in a business turnover of 1,978 lots.

Metal for delivery in February next year rose Rs 2, or 0.61 per cent, to Rs 325.35 per kg in 40 lots.

Analysts attributed the rise in copper futures to a firm trend at the domestic markets following pick up in demand from consuming industries and positive global cues.