Copper up 0.1% on spot demand, global cues

Copper futures were up 0.07% at Rs 301.90 per kg today as speculators enlarged bets, largely in step with a firming trend in metal at domestic spot market on industrial demand amid a firm trend overseas.

At Multi Commodity Exchange, copper for delivery in June rose 20 paise, or 0.07%, at Rs 301.90 per kg, in a turnover of 543 lots.

Metal for delivery in far-month August also rose by a similar margin to trade at Rs 306.55 per kg, with trade volume of 13 lots.

Analysts attributed gain in copper futures to pick up in demand from consuming industries at domestic spot markets and a rebound in metal at the London Metal Exchange (LME).
 
Globally, copper for delivery in three months strengthened 0.2% to $4,524.50 per tonne at the LME.