Copper futures gain on overseas trend, spot demand

NEW DELHI: Amid a firming global trend, copper prices moved up by Rs 1.05, or 0.26 per cent, to Rs 404.45 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in far-month February next year was up by Rs 1.05, or 0.26 per cent, to Rs 404.45 per kg in a bsuiness volume of 353 lots.

Metal for delivery in April 2015 gained 95 paise, or 0.23 per cent, to Rs 408.30 per kg in business turnover of seven 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 0.2 per cent to $6,460.75 a tonne at the LME.