Copper goes up 0.80% in futures trade on overseas cues

Copper prices went up by 0.80 per cent to Rs 434.70 per kg in futures trade Monday after speculators created fresh positions amid positive global cues. Besides, uptick in demand from consuming industries at the domestic spot market fuelled the uptrend.

At the Multi Commodity Exchange, copper for delivery in current month was trading higher by Rs 3.45, or 0.80 per cent at Rs 434.70 per kg in a business turnover of 554 lots. Market analysts said the rise in copper prices at futures trade was mostly attributed to a firm trend in overseas markets and rising demand from consuming industries at the physical markets here.