Copper futures marginally up on firm LME cues

Buoyed by a firming trend at the London Metal Exchange (LME), copper futures prices rose by 0.12 per cent today as speculators enlarged their positions.

At the Multi Commodity Exchange counter, copper for delivery in June edged up by 55 paise or 0.12 per cent to Rs 465.35 per kg with a business turnover of two lots. Similarly, the metal for delivery in February gained 25 paise or 0.05 per cent to Rs 459.20 per kg with a turnover of six lots.

Analysts said the sentiment turned better as copper prices strengthened at the LME after a report showing US consumer confidence rose in February to the highest-level in eight months and pick-up in demand at the spot markets.

Meanwhile, three-month copper delivery rose as much as 0.6 per cent to $10,019 per tonne at the LME.