Copper rises by 1.5% on global cues

Copper futures were up 1.50% at Rs 344.95 per kg today as speculators enlarged bets, largely in step with a firming trend in base metals at the London Metal Exchange (LME).

At Multi Commodity Exchange, copper for delivery in November rose Rs 5.10, or 1.50%, at Rs 344.95 per kg, in a turnover of 4,681 lots.

Metal for delivery in far-month February next year also rose Rs 4.80 to trade at Rs 350.60 per kg, with trade volume of 86 lots.

Analysts said gains in copper and other metals overseas after Glencore has cut production this year and rising demand at the domestic spot markets influenced metal prices at futures trade here.