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BS:Copper rises 0.3% on global cues
 
Buoyed by a firming trend in the global markets, copper futures prices rose by 0.29% to Rs 428.45 per kg today as speculators enlarged positions.

At the Multi Commodity Exchange, copper for delivery in November rose by Rs 1.25, or 0.29%, to Rs 428.45 per kg, with a business turnover of 3,846 lots.

The February contract moved up by Rs 1.20, or 0.28%, to Rs 432.95 per kg in 237 lots.
Marketmen said a firming trend overseas raised the demand outlook for metals, influencing copper prices at futures trade here.

The first contraction in manufacturing in nine months in China spurred speculation the government will bring more stimulus and the US Federal Reserve indicated further action will be taken, raising the outlook for metals.

Besides, pick up in demand at the domestic spot market supported the upside, traders said.

Meanwhile, copper for delivery in three months traded 0.3% higher at $7,638.50 a tonne on the London Metal Exchange.
Source