Copper futures recovers over 1% on global cues

Taking firming cues from the London Metal Exchange counter, copper regained strength to trade 1.04 per cent higher at Rs 419.30 per kg in futures trade today.

At the Multi Commodity Exchange counter, copper delivery for February contract went up by Rs 4.30, or 1.04 per cent to trade at Rs 419.30 per kg, with a turnover of 16,177 lots.

It ended 0.20 per cent lower at Rs 415 per kg in yesterday's trade.

Similarly, the metal for delivery in April traded higher by Rs 3.90 or 0.99 per cent, to Rs 421.40 per kg, with a business turnover of 833 lots.

Analysts said rise in copper futures attributed to reports that the metal at the London Metal Exchange (LME) was trading 1.60 per cent higher at $9,156 per tonne, supported by strong US data, raising hopes of pick up in demand for the metal.