Copper rises by 0.6% on global cues

Pick-up in demand from consuming industries in the spot market also supported the upside

Buoyed by a firm global trend and pick up in domestic demand, copper prices traded higher by 0.60% to Rs 386.30 per kg in futures trade today as speculators created fresh positions.

At the Multi Commodity Exchange, copper for delivery in April rose by Rs 2.30, or 0.60% to Rs 386.30 per kg in a business turnover of 339 lots.

Likewise, the metal for delivery in June traded higher by Rs 2.15, or 0.55%, at Rs 390 per kg in 15 lots.

Globally, copper for delivery in three months climbed to $6,173 a metric tonne, the highest intra-day level since March 26 on the London Metal Exchange.
 
Besides, pick-up in demand from consuming industries in the spot market supported the upside, they said.