Copper rises marginally on positive global cues

February, April contracts up 0.06% and 0.08% respectively

Copper futures rose 0.08 per cent to Rs 316.75 per kg today as participants enlarged their positions, taking positive cues from overseas markets and pick-up in spot demand.

At the Multi Commodity Exchange, copper for delivery in April next year was trading higher by 25 paise, or 0.08 per cent, to Rs 316.75 per kg, with a turnover of four lots.

The February contract was up by 20 paise, or 0.06 per cent, at Rs 312.45 per kg, with a trade volume of 515 lots.

Globally, copper for three-month delivery surged as much as 0.6 Per cent on the London Metal Exchange (LME).
 

Market analysts attributed the rise in copper futures trade to a firming trend in the base metals pack at the LME and pick-up in spot demand.