Taking positive cues from the global markets and a pick up in domestic demand, copper prices rose further by 0.30 per cent to Rs 448.25 per kg in futures trade today. At the Multi Commodity Exchange, copper for delivery in February traded higher by Rs 1.35, or 0.30 per cent, at Rs 448.25 per kg, with a business turnover of 6,672 lots. Similarly, the metal for delivery in April edged up by Rs 1.30, or 0.29 per cent, to Rs 452.50 per kg, with a business turnover of 416 lots. Marketmen said a firm global trend on encouraging economic data from China, the biggest consumer of the metal and speculation that US lawmakers will reach an agreement on the budget, mainly influenced copper prices at futures trade here. Further, increased demand at domestic spot markets from consuming industries also supported the upside, they said. Meanwhile, copper for delivery in three months gained 0.3 per cent to trade at USD 8,085 a tonne on the London Metal Exchange.

Source