Copper futures gain 0.71% on global cues

Copper prices moved up by 0.71 per cent to Rs 413.50 per kg in futures trade today as participants enlarged positions.
Besides, increased demand from consuming industries in the spot market supported the upside.
At the Multi Commodity Exchange, copper for delivery in February next year moved up by Rs 2.90, or 0.71 per cent, to Rs 413.50 per kg in a business turnover of 13,081 lots.
Similarly, the metal for delivery in April gained Rs 2.70, or 0.55 per cent, to Rs 417 per kg in 196 lots.
Analysts said apart from increased demand from consuming industries in the spot markets, a firming trend in base metal overseas, mainly led to the rise in copper prices at futures trade.

Globally, copper for delivery in three months rose 0.2 per cent to USD 6,504.75 a metric tonne on the London Metal Exchange.