Copper futures marginally up on global cues

Written by Agencies | New Delhi | Updated: Mar 31 2011, 20:05pm hrs
In restricted activity, copper futures prices recovered by 0.34 per cent to Rs 425 per kg on Thursday as speculators enlarged their positions amid a slightly better trend at the London Metal Exchange (LME).

Firm trend at the spot markets on the back of pick-up in industrial demand also influenced copper futures prices here.

At the Multi Commodity Exchange, copper futures prices for delivery in April rose by Rs 1.45, or 0.34 per cent, to Rs 425 per kg, with a business turnover of 3,123 lots.

It had lost 2.1 per cent to Rs 423.55 per kg in the previous session.

Likewise, the metal for delivery in June gained Rs 1.35, or 0.31 per cent, to Rs 430.85 per kg, with a business turnover of 247 lots.

Analysts attributed the recovery in copper futures to firming metal prices at the LME.