Copper futures up on firm global cues

Copper moved up by 0.34% to Rs 431.55 per kg in futures trade today on continued buying by traders, tracking firming trend at the London Metal Exchange (LME) on expectations that the demand for metal may pick-up.

Trading sentiments in copper futures remained firm as the metal strengthened in overseas markets on expectations of improving demand offset concerns about Europe’s debt crisis and more earthquakes in Japan.

At the Multi Commodity Exchange, copper for delivery in April gained Rs 1.45, or 0.34%, to Rs 431.55 per kg, with a business turnover of 14 lots. 

Similarly, the metal for delivery in June traded higher by Rs 1.45, or 0.33%, to Rs 437.05 per kg, with an open interest of two lots.

Meanwhile, copper for three-month delivery rose by 0.2% to $9,512.50 a metric tonne on the LME.

(Source: http://www.business-standard.com/india/news/copper-futures-upfirm-global-cues/129942/&tp=on)