Copper futures rise 0.29% on spot demand pick-up

Copper prices moved up 0.29 per cent to Rs 470.25 per kg in futures market today as speculators widened positions amid firm global cues and pick- up in demand in the domestic spot market.
At the Multi Commodity Exchange, copper for delivery in April rose Rs 1.35, or 0.29 per cent, to Rs 470.25 per kg in business turnover of 17 lots.
Likewise, the metal for delivery in February contracts was trading higher by Rs 1.05, or 0.23 per cent, at Rs 467.30 per kg in 2,581 lots.
Analysts said besides a firm trend overseas, increased demand from consuming industries in the physical market also attributed to the rise in prices in futures trade.

Globally, copper for delivery in three month rose 1.6 per cent to USD 7,236.50 a metric tonne on the London Metal Exchange.