 "Copper up 0.1% on global cues, spot demand")
Tracking a firming trend overseas, copper futures prices rose by 0.14% to Rs 443.70 per kg today as speculators enlarged positions.
Further, pick-up in demand at spot markets also supported the upside.
At the Multi Commodity Exchange, copper for delivery in February up by 60 paise, or 0.14%, to Rs 443.70 per kg, with a business turnover of 108 lots.
Marketmen said the rise in copper futures was attributed to a firming trend overseas on concern that mine supplies will decline from Indonesia and stockpiles continued shrinking.
Globally, copper for the metal for delivery in three months climbed 0.4% to $7,049.25 per tonne at the London Metal Exchange, while at Shanghai Futures Exchange, the metal for delivery in May contracts advanced 0.3% to 56,800 yuan ($8,057) per tonne.
Further, pick-up in demand at spot markets also supported the upside.
At the Multi Commodity Exchange, copper for delivery in February up by 60 paise, or 0.14%, to Rs 443.70 per kg, with a business turnover of 108 lots.
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Similarly, the metal for delivery in April traded 50 paise, or 0.11% higher, at Rs 443.15 per kg, with a business turnover of 53 lots.
Marketmen said the rise in copper futures was attributed to a firming trend overseas on concern that mine supplies will decline from Indonesia and stockpiles continued shrinking.
Globally, copper for the metal for delivery in three months climbed 0.4% to $7,049.25 per tonne at the London Metal Exchange, while at Shanghai Futures Exchange, the metal for delivery in May contracts advanced 0.3% to 56,800 yuan ($8,057) per tonne.