Copper futures recover on global cues, spot demand

Supported by a firm global trend and increased domestic demand, copper prices rose 0.21 per cent to Rs 333.70 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in November contracts traded higher by 70 paise, or 0.21 per cent, to Rs 333.70 per kg in business turnover of 1,048 lots.
The metal for delivery in far-month February next year edged up by 50 paise, or 0.15 per cent, to Rs 339.65 per kg in 12 lots.
Globally, copper for delivery in three months added 0.8 per cent on the London Metal Exchange (LME), while nn Shanghai Future Exchange, metal for delivery in Nvember gained 0.7 per cent to USD 5,005 per tonne.

Market analysts said besides increased demand from consuming industries, a firming trend in metal at the LME after consumer confidence unexpectedly increased in the US, buoying its demand outlook, mainly influenced copper prices at futures trade.