Copper up 0.2% on global cues

Copper futures traded 0.71% higher at Rs 306.30 per kg today as speculators widened their positions, largely in tandem with a firming trend overseas.

At the Multi Commodity Exchange, copper for delivery in the current month rose Rs 2.15 or 0.71% to Rs 306.30 per kg in a turnover of ,1476 lots.

Metal for delivery in far-month August also rose Rs 2.20 or 0.41% to trade at Rs 311 per kg with trade volume of 15 lots.

Analysts said gains in copper and other metals in global market as mounting speculation that the US Federal Reserve will hold off on raising interest rates until later in the year kept a lid on the dollar, mainly influenced copper futures here.
 

Globally, copper for three-month delivery rose 0.4% to $4,595 per tonne at the London Metal Exchange.