Copper futures up 1.39 pc on global cues

NEW DELHI: Copper futures prices rose by 1.39 per cent to Rs 398.30 per kg in tandem with a firm trend in overseas markets.

At the Multi Commodity Exchange counter, copper delivery for April rose by Rs 5.45, or 1.39 per cent, to Rs 398.30 per kg, with a business turnover of two lots.

Likewise, the metal for delivery in November traded higher by Rs 3.75 paise, or 0.97 per cent, to Rs 391.85 per kg, with a business turnover of six lots.

Analysts said reports of firm trend in the entire base metals and other base metals at overseas markets, following a strike by union workers at Chile's Collahuasi, the world's No.3 copper mine, supported the upside in copper futures here.

Meanwhile, copper for the three-month delivery gained 1.25 per cent, to USD 8,768.50 a tonne on the London Metal Exchange.