Copper futures up 0.47 pc on strong global cues

Taking positive cues from the overseas markets and a pick-up in spot demand, copper futures rose 0.47 per cent to Rs 449.50 per kg today.
At the Multi Commodity Exchange, copper for delivery in April rose by Rs 2.10, or 0.47 per cent, to Rs 449.50 per kg, with a turnover of 46 lots.
Similarly, the metal for delivery in February was up by Rs 2.15, or 0.46 per cent, at Rs 443.20 per kg, with a trade volume of 1,385 lots.
Globally, copper for three-month delivery added 0.30 per cent to USD 7,063 a tonne on the London Metal Exchange (LME).

Market analysts attributed the rise in copper in futures trade to a firming trend at the LME as inventories declined 0.20 per cent to 313,275 tonnes, the lowest since December 2012, daily bourse data showed.
Besides, pick-up on spot demand also supported the upside, they said.