 "Global cues, spot demand lift copper by 0.5%")
Amid positive global cues and pick up in spot demand at the domestic markets, copper prices were up by 0.55% to Rs 311.65 per kg in futures trading today as speculators widened fresh positions.
At the Multi Commodity Exchange, copper for delivery in February month rose by Rs 1.70, or 0.55% to Rs 311.65 per kg in business turnover of 734 lots.
Similarly, the metal for delivery in far-month April contract traded higher by Rs 1.50, or 0.48% to Rs 304.40 per kg in nine lots.
Globally, copper for delivery in three month climbed 0.9% to $4,603 a metric tonne on the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in February month rose by Rs 1.70, or 0.55% to Rs 311.65 per kg in business turnover of 734 lots.
Similarly, the metal for delivery in far-month April contract traded higher by Rs 1.50, or 0.48% to Rs 304.40 per kg in nine lots.
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Analysts attributed the rise in copper futures trade to a firm global trend where the metal led base metals higher as China's central bank sought to support the property market with steps that may spur investment in the country and demand from the construction industry.
Globally, copper for delivery in three month climbed 0.9% to $4,603 a metric tonne on the London Metal Exchange.