Copper futures spurt on global cues

New Delhi: Copper futures were up 0.94 per cent at Rs 337.75 per kg today as speculators enlarged bets, largely in step with a firming trend in base metals at the London Metal Exchange (LME).

Furthermore, pick up in demand at domestic spot markets influenced copper futures here.

At Multi Commodity Exchange, copper for delivery in April was trading Rs 3.15, or 0.94 per cent, at Rs 337.75 per kg, in a turnover of 3,035 lots.

Metal for delivery in far-month June also rose Rs 2.95 to trade at Rs 342.10 per kg, with trade volume of 30 lots.

Analysts said gains in the base metals pack at the LME after the US Federal Reserve held rates and scaled back expectations of future hikes this year, influenced copper prices at futures trade.

Globally, copper for delivery in three months rose 1.3 per cent to settle at USD 5,000 per tonne on LME.