Copper futures gain 0.34% on spot demand, global cues

NEW DELHI, Nov 10:  Copper prices gained 0.34 per cent to Rs 414.45 per kg in futures trade today as speculators enlarged positions, supported by pick up in demand from consuming industries amid a firming global trend.
At the Multi Commodity Exchange, copper for delivery in November rose Rs 1.40, or 0.34 per cent to Rs 414.45 per kg in business turnover of 282 lots.
Similarly, the metal for delivery in far-month February next year gained Rs 1.35, or 0.27 per cent to Rs 419.50 per kg in 11 lots.
Market analysts said speculators enlarged their positions due to pick up in demand from consuming industries in the spot market and a firming trend overseas mainly led to rise in copper prices in futures trade.
Meanwhile, copper for delivery in three months traded little changed at USD 6,715 a metric tonne on the London Metal Exchange while in Shanghai the metal for delivery in January advanced 0.70 per cent to 47,520 yuan ($7771) per tonne. (PTI)

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