 "Copper rise on global cues, spot demand")
Buoyed by a firm global trend and increased domestic demand, copper prices rose by 0.54% to Rs 467 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in November traded higher by Rs 2.45, or 0.54% to Rs 456.65 per kg in business turnover of 1,263 lots.
Similarly, the metal for delivery in February next year, edged up by Rs 2.15, or 0.46% to Rs 467 per kg in a turnover of 51 lots.
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Globally, copper for delivery in three months traded higher at USD 7,266.25 a tonne on the London Metal Exchange (LME).
Market analysts said apart from increased demand from consuming industries, a firming trend overseas on hopes of post-holiday demand in China, the top consumer of metal, and fall in global stockpiles, mainly influenced copper prices at futures trade.
Markets in China have been closed for National Day holidays since October 1 and will resume trading tomorrow.
Meanwhile, stockpiles tracked by the LME fell 0.8% to 5,25,925 tonnes, the lowest since March 15, daily exchange figures showed.