Copper futures climb 1.64% on global cues, spot demand

Copper futures traded 1.64 per cent higher at Rs 384.65 per kg today as speculators widened positions amid firm global trend and higher domestic demand.
At the Multi Commodity Exchange, copper for delivery in November was trading higher by Rs 6.20, or 1.64 per cent, at Rs 384.65 per kg, in a business turnover of 2,046 lots.
Metal for delivery in far-month February next year also rose by Rs 5.85, or 1.52 per cent, to trade at Rs 389.95 per kg in 117 lots.
Analysts said apart form increased demand at the domestic spot markets from consuming industries, a firming trend overseas as metal markets renewed their advance on stronger oil prices and optimism over demand in the US, influenced the copper futures.

Globally, copper for delivery in three months rose 2.5 per cent to USD 5,559 per metric tonne on the London Metal Exchange.