Copper futures up on postive global cues
Copper traded marginally higher by 0.16 per cent to Rs 404.50 per kg in futures trade today, supported by a firming trend in the base metals at the London Metal Exchange (LME) and pick-up in domestic spot demand.
At the Multi Commodity Exchange, copper for delivery in June traded higher by 65 paise, or 0.16 per cent, to Rs 404.50 per kg, with a business turnover of 6,426 lots.
Similarly, the metal for delivery in August edged up by 55 paise, or 0.13 per cent, to Rs 409.60 per kg, with an open interest of 732 lots.
Market analysts attributed the recovery in copper futures prices to a firming trend in copper at the LME after assurances from European officials that a solution will be found to Greece's debt crisis.
Meanwhile, copper for three-month rose 0.4 per cent to USD 9,045 a tonne at the LME.