Copper futures gain 0.58% on global cues, spot demand

Copper prices rose by 0.58 per cent to Rs 365.95 per kg in futures trade today as traders enlarged positions amid firm trend overseas.
Besides, pick up in demand from consuming industries at domestic spot market fuelled the uptrend.
At the Multi Commodity Exchange, copper for delivery in June went up by Rs 2.10, or 0.58 per cent, to Rs 365.95 per kg, in a business turnover of 1,619 lots.
Similarly, the metal for delivery in far-month August traded higher by Rs 2.15, or 0.58 per cent, to Rs 369.75 per kg in 26 lots.
Market analysts said widening of positions by participants on the back of a firm trend overseas and pick up in demand from consuming industries in the physical market, mainly influenced copper prices at futures trade.

Globally, copper for delivery in three month settled 0.1 per cent higher at USD 5,621 a metric tonne on the London Metal Exchange in yesterday's trade.