Global cues, spot demand lift copper futures by 1.91%

Copper prices were up by 1.91 per cent to Rs 383.70 per kg in futures trade today as speculators raised their bets amid pick up in spot demand and a firm trend overseas.
At the Multi Commodity Exchange, copper for delivery in far-month February 2017 rose by Rs 7.20, or 1.91 per cent, to Rs 383.70 per kg in business turnover of 1,188 lots.
Similarly, the metal for delivery in November contracts traded higher by Rs 7.05, or 1.90 per cent, to Rs 378.15 per kg in 20,302 lots.
Analysts said besides pick up in demand from consuming industries at domestic spot market, firm trend in global markets, mainly led to rise in copper prices at futures trade.

Meanwhile, copper for delivery in three-month jumped 2.7 per cent on the London Metal Exchange.