Copper futures rise on global cues, spot demand

NEW DELHI, Dec 20: Buoyed by a firm global trend and increased domestic demand, copper prices rose marginally by 0.09 per cent to Rs 460.80 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in February contracts traded higher by 40 paise, or 0.09 per cent, to Rs 460.80 per kg in business turnover of 357 lots.
Similarly, the metal for delivery in the far-month April edged up by 10 paise, or 0.02 per cent, to Rs 465.95 per kg in 11 lots.
Market analysts said besides increased demand from consuming industries, a firming trend overseas as demand from China, the biggest user, is expected to gain, influenced copper prices at futures trade here.
Meanwhile, copper for delivery in three months gained 0.3 per cent to USD 7,222 a tonne on the London Metal Exchange. (AGENCIES)