Copper futures up 0.13 pc on global cues, spot demand

Copper prices edged higher by 0.13 per cent to Rs 408.65 per kg in futures trade today as traders widened positions, tracking a firm trend overseas.

Besides, pick up in demand from consuming industries at the domestic spot market added to the upmove.

At the Multi Commodity Exchange, copper for delivery in August was trading higher by 55 paise, or 0.13 per cent, to Rs 408.65 per kg in a business turnover of 772 lots.

Likewise, the metal for delivery in November edged higher by 50 paise, or 0.12 per cent, to Rs 414.85 per kg in six lots.

Analysts said, apart from pick-up in demand from consuming industries in the spot market, positive leads from global markets on signs of stronger Chinese demand and lingering supply-side concerns, mainly supported the upside in copper futures here.

Globally, copper for three-months delivery ended 1.7 per cent higher at USD 6,330 per tonne at the London Metal Exchange in yesterday's trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)