Copper futures up 1.39% on global cues

Supported by a firm trend at the London Metal Exchange (LME), copper futures prices rose by 1.78 per cent to Rs 396.60 per kg.

Pick up in demand at the spot markets also influenced copper futures prices here.

At the Multi Commodity Exchange counter, copper delivery for November rose by 6.95, or 1.78 per cent to Rs 396.60 per kg, with a business turnover of 13 lots.

Similarly, the metal for delivery in February traded higher by Rs 6.70 paise, or 1.70 per cent, to Rs 400.75 per kg, with a business turnover of seven lots. 

Analysts said reports of firm trend in the entire base metals at the LME on speculation that the recovering global economy would boost demand for commodities, supported the upside in copper futures here.

Further, shrink in copper's stockpiles by 28 per cent to 363,950 tonnes this year at the LME's ware houses also influenced prices, they said.

Meanwhile, copper for the three-month delivery gained 2.09 per cent, to $8,923 a tonne on the LME.