Copper futures rise 0.46% on global cues, spot demand

Amid positive global cues and pick up in domestic demand, copper prices were up 0.46 per cent to Rs 304.35 per kg in futures trade today as speculators widened positions.

At the Multi Commodity Exchange, copper for delivery in far-month February moved up by Rs 1.40, or 0.46 per cent to Rs 304.35 per kg in business turnover of 2,294 lots6.

Likewise, the metal for delivery in November contracts edged up by 80 paise, or 0.27 per cent to Rs 297.40 per kg in 17,682 lots.

Analysts said besides firm global trend, pick up in demand from consuming industries in the spot market, mainly influenced copper prices at futures trade.
 

Meanwhile, copper for delivery in three month advanced 0.5 per cent at Shanghai Exchange.