Copper futures gain 0.17% on global cues

Copper futures prices moved up by 0.17 per cent to Rs 423.30 per kg today as speculators enlarged positions, tracking firm trends at London Metal Exchange (LME) and Shanghai.

At the Multi Commodity Exchange, copper for delivery in February gained 70 paise, or 0.17 per cent to Rs 423.30 per kg, with a business turnover of 14 lots.

Similarly, the metal for delivery in April contract edged up by 65 paise, or 0.15 per cent to Rs 425.45 per kg, with a business turnover of three lots.

Market analysts said firm trends in overseas markets on hopes of boost in demand outlook for the metal as economic recovery in the US remains on track, influenced copper futures prices here.

Meanwhile, at the LME, copper for three-month delivery added 0.5 per cent to $9,247 a tonne.