Copper up by 0.2% on global cues

Rising demand from consuming industries also influenced copper prices

Buoyed by a firm global trend and increased domestic demand, copper prices rose 0.21% to Rs 398 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in August traded higher by 85, or 0.21%, to Rs 398 per kg in a business turnover of three lots.

Similarly, the metal for delivery in June was up 60 paise, or 0.15%, to Rs 393.05 per kg in 123 lots.

Market analysts said a firming trend overseas ahead of data expected to signal a slight upturn in factory activity in China, the world's biggest consumer of metals, supported the upside in copper futures here.
 
Globally, copper for delivery in three months climbed 0.4% to $6,122 a tonne at the London Metal Exchange.

Besides, rising demand from consuming industries influenced copper prices, they said.