Copper futures rise 0.56% on spot demand, global cues

Copper prices moved up by 0.56 per cent to Rs 419.35 per kg in the evening session of futures trade today as speculators enlarged positions amid pick-up in domestic demand and a firm global trend.
At the Multi Commodity Exchange, copper for delivery in August rose by Rs 2.35, or 0.56 per cent, to Rs 419.35 per kg in a business turnover of 1,223 lots.
Similarly, the metal for delivery in November moved up by 65 paise, or 0.15 per cent, to Rs 429.20 per kg in 1,276 lots.
Market analysts said besides rising demand form consuming industries, a firming trend in global markets led to the rise in copper prices at futures trade.

Meanwhile, copper increased 0.5 per cent to USD 6,972 per metric tonne on the London Metal Exchange.