NEW DELHI, Dec 4: Taking positive cues from overseas markets and a pick-up in spot demand, copper futures rose by 0.68 per cent today to Rs 401.35 per kg.
At the Multi Commodity Exchange, copper for delivery in February next year was trading higher by Rs 2.70, or 0.68 per cent, to Rs 401.35 per kg, with a turnover of 1,493 lots.
Similarly, the metal for delivery in far-month April 2015 contract was up by Rs 2.30, or 0.57 per cent, at Rs 405.10 per kg, with a trade volume of 24 lots.
Globally, copper for three-month delivery added USD 68, or 1.1 per cent, to USD 6,448 a tonne on the London Metal Exchange (LME), while the metal for February in Shanghai advanced 1.1 per cent to 45,72- yuan (USD 7,433) per tonne.
Market analysts attributed the rise in copper in futures trade to a firming trend on the LME on expectations of steady growth in the labour market of the US, the second-largest metals consumer, and after a fire at Mongolia’s biggest copper-and-gold mine.
Besides, pick-up on spot demand also supported the upside, they said. (PTI)
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