Copper gains 0.73% in futures trade on global cues

Speculators enlarged position as June copper gains marginally in Shanghai

Copper prices moved up by 0.73 per cent to Rs 379.05 per kg in futures trade today as speculators enlarged positions amid a firming trend overseas.

At the Multi Commodity Exchange, copper for delivery in April traded higher by Rs 2.75, or 0.73 per cent, to Rs 379.05 per kg in a business turnover of 1,318 lots.

The metal for delivery in June gained Rs 2.80, or 0.73 per cent, to Rs 383.85 per kg in a business turnover of 38 lots.

Analysts attributed the rise in copper futures to a firming trend in base metals in the global markets.
 

Meanwhile, copper for June delivery was up 0.1 per cent to 43,360 yuan ($ 6,983) per tonne in Shanghai.