Copper up 0.19% on overseas trend, spot demand

Metal gains 0.4% on London and as much as 2.5% in Shanghai

Copper prices moved up by 0.19 per cent, to Rs 343.50 per kg in futures trade today amid a firming global trend.

At the Multi Commodity Exchange, copper for delivery in February was up by 65 paise, or 0.19 per cent, to Rs 343.50 per kg in a business volume of 577 lots.

April copper gained 60 paise, or 0.19 per cent, to Rs 347.65 per kg in business turnover of 34 lots.

Marketmen attributed the rise in copper futures to a firming trend in base metals at the London Metal Exchange (LME).

Further, rising demand from consuming industries at domestic spot markets supported the upside, they said.
 

Meanwhile, copper for delivery in three months rose 0.4 per cent to $5,515 a tonne at the LME, while at Shanghai Futures Exchange, it gained 2.5 per cent to 40,060 yuan ($6,414) per tonne.