Copper futures up on global cues; spot demand

NEW DELHI: Copper futures prices rose by 0.15 per cent today, as speculators built up fresh positions, driven by a firm trend in global markets.

Pick up in demand at domestic spot markets from consuming industries also influenced copper futures here.

At the Multi Commodity Exchange, copper delivery for June edged up by 65 paise, or 0.15 per cent, to Rs 441.45 per kg, with a business turnover of 505 lots.

Similarly, the metal for delivery in April traded higher by 30 paise, or 0.07 per cent, to Rs 436.60 per kg, with a business turnover of 3,991 lots. It ended 3.5 per cent higher at Rs 436.30 per kg in yesterday's trade.

Meanwhile, three-month London copper was trading a shade higher at USD 9,555 a tonne, while it shot up by 3 per cent in New York yesterday.

Analysts said trading sentiments in copper futures turned better as the metal strengthened in overseas markets and pick up in demand at the domestic spot markets.