 "Copper up by 0.1% on global cues")
Copper prices rose 0.13% to Rs 419.55 per kg in futures trade today as speculators enlarged positions after base metals strengthened in the global market amid pick-up in spot demand.
At the Multi Commodity Exchange, copper for delivery in February next year edged up by 55 paise, or 0.13%, to Rs 419.55 per kg in a business turnover of two lots.
Likewise, the metal for delivery in November traded higher by 45 paise, or 0.11%, to Rs 412.40 per kg in 642 lots.
Also, pick-up in demand in the spot market further fuelled the uptrend, they said.
Meanwhile, copper for delivery in three months rose $49.50, or 0.80% to $6,687 a tonne on the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in February next year edged up by 55 paise, or 0.13%, to Rs 419.55 per kg in a business turnover of two lots.
Likewise, the metal for delivery in November traded higher by 45 paise, or 0.11%, to Rs 412.40 per kg in 642 lots.
More From This Section
Market analysts attributed the rise in copper futures to a firming trend in copper and other base metals in the global market on signs that the US Federal Reserve may hold back hike in interest rates, bolstering demand for commodities priced in the currency.
Also, pick-up in demand in the spot market further fuelled the uptrend, they said.
Meanwhile, copper for delivery in three months rose $49.50, or 0.80% to $6,687 a tonne on the London Metal Exchange.