NEW DELHI, May 3: Taking positive cues from the overseas markets and a pick-up in spot demand, copper futures prices today rose by 1.95 per cent to Rs 379.40 per kg.
At the Multi Commodity Exchange, copper for delivery in June rose by Rs 7.25, or 1.95 per cent, to Rs 379.40 per kg, with a turnover of 8,696 lots.
Similarly, the metal for delivery in far-month August was up by Rs 7, or 1.86 per cent, at Rs 384 per kg, with a trade volume of 508 lots.
Globally, copper for three-month delivery shot up by 2.8 per cent to USD 7,038.25 a tonne on the London Metal Exchange (LME).
Market analysts attributed the rise in copper in futures trade to a firming trend on the LME after the European Central Bank reduced interest rates to a record and US filings for unemployment benefit fell to a five-year low, boosting the outlook for demand.
Besides, pick-up on spot demand also supported the upside, they said. (PTI)
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