 "Copper up 0.19% on global cues, spot demand")
Buoyed by a firm global trend and high domestic demand, copper prices rose 0.19 per cent to Rs 447.15 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in February traded higher by 85 paise, or 0.19 per cent, to Rs 447.15 per kg in a business turnover of 438 lots.
April copper edged up by 75 paise, or 0.17 per cent, to Rs 451.65 per kg in 17 lots.
Market analysts said besides increased demand from consuming industries, a firming overseas trend as London Metal Exchange stockpiles fell for the 20th straight day to the lowest level since December 2012, ahead of the return of more Chinese traders next week, influenced copper prices at futures trade here.
Meanwhile, copper stockpiles monitored by the LME fell to 300,675 tonnes yesterday, according to data released by the bourse.
At the Multi Commodity Exchange, copper for delivery in February traded higher by 85 paise, or 0.19 per cent, to Rs 447.15 per kg in a business turnover of 438 lots.
April copper edged up by 75 paise, or 0.17 per cent, to Rs 451.65 per kg in 17 lots.
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Globally, copper for delivery in three months climbed 0.50 per cent to $7,146 a tonne at the London Metal Exchange. At Shanghai Futures Exchange, the metal for April delivery rose 0.2 per cent to 50,730 yuan ($8,368) a tonne.
Market analysts said besides increased demand from consuming industries, a firming overseas trend as London Metal Exchange stockpiles fell for the 20th straight day to the lowest level since December 2012, ahead of the return of more Chinese traders next week, influenced copper prices at futures trade here.
Meanwhile, copper stockpiles monitored by the LME fell to 300,675 tonnes yesterday, according to data released by the bourse.