Copper futures gain 0.49% on global cues, spot demand

Copper prices moved up by 0.49 per cent to Rs 320.55 per kg in futures trade today as traders widened their bets amid a firming trend overseas and pick up in demand in the domestic spot markets.
At Multi Commodity Exchange, copper for delivery in August rose by Rs 1.55 or 0.49 per cent to Rs 320.55 per kg in business turnover of 2,527 lots.
Similarly, the metal for delivery in November contracts traded higher by Rs 1.50 or 0.46 per cent to Rs 327.20 per kg in 68 lots.
Analysts attributed the rise in copper futures to firm trend at the London Metal Exchange (LME) where it added 0.7 per cent in futures trade.

Besides, uptick in demand from consuming industries at the domestic spot markets supported the upside, they said.