Copper up by 0.7% on global cues

Pick up in spot demand at the domestic markets also affected prices

Amid positive global cues and pick up in spot demand at the domestic markets, copper prices edged up by 0.72% to Rs 299.50 per kg in futures trading today as speculators created fresh positions.

At the Multi Commodity Exchange, copper for delivery in February month rose by Rs 2.15, or 0.72% to Rs 299.50 per kg in business turnover of 841 lots.

Similarly, the metal for delivery in far-month April contract traded higher by Rs 2.05, or 0.68% to Rs 304.40 per kg in 33 lots.

Analysts attributed the rise in copper futures trade to a firm global trend where the metal led base metals higher.
 
Globally, copper for delivery in three month climbed 1.2% to $4,413 a metric tonne on the London Metal Exchange.