Copper futures up 0.24% on global cues

Tracking a firm trend at the London Metal Exchange (LME), copper futures prices today rose by 0.24 per cent to Rs 399.05 per kg.

Firm trend at the spot markets on pick up in demand also influenced the copper futures prices here.

At the Multi Commodity Exchange counter, copper delivery for April rose by Rs 1.45, or 0.24 per cent, to Rs 399.05 per kg.

Similarly, the metal for delivery in February also edged up by 90 paise, or 0.21 per cent, to Rs 396.80 per kg. It ended 1.81 per cent higher at Rs 395.90 per kg in the previous session.

India copper futures are likely to open steady on Thursday morning as gains in London market are seen outweighed by the firm rupee, analysts said.

London copper rose for a third straight session to hit a two-week top on Thursday and other base metals scaled higher as upbeat economic data revived confidence in the global economy. 

Analysts said reports copper prices were influenced following a firm trend in most of the base metals at the London Metal Exchange, where the copper hit a two-week high on upbeat economic data, reviving confidence in the global economy.