Copper futures remain up on global cues

NEW DELHI: Copper prices rose further by Rs 1.40 to Rs 436.75 per kg in futures trade today as speculators enlarged their positions on the back of firming global trend.

Increased demand from consuming industries also supported the uptrend in copper futures prices.

At the Multi Commodity Exchange, copper for delivery in August rose by Rs 1.40, or 0.32 per cent, to Rs 436.75 per kg, with a business turnover of 9,755 lots.

Similarly, the metal for delivery in November gained Rs 1.35, or 0.31 per cent, to Rs 442.65 per kg, with an open interest of 586 lots.

Market analysts said increased buying by speculators amid a firming global trend mainly led to the rise in copper prices at futures trade here.

Meanwhile, copper in Shanghai climbed by 0.4 per cent to 72,100 yuan a tonne.