Copper futures rise on higher global cues

Tracking a firming global trend, copper prices rose by Rs 3.95 to Rs 365.95 per kg in futures trade today on fresh buying by speculators.

Trading sentiment bolstered after copper climbed in global markets on speculation that measures by European policy makers may help contain the region's debt crisis.

At the Multi Commodity Exchange, copper for delivery in February rose by Rs 3.95, or 1.09%, to Rs 365.95 per kg, with a business turnover of 1,265 lots.

In a similar fashion, the metal for delivery in November moved up by Rs 3.85, or 1.08%, to Rs 361.20 per kg, with a trade volume of 15,374 lots.

Market analysts said besides fresh buying by speculators, a firming trend in global markets, mainly led to the rise in copper prices at futures trade.

Meanwhile, copper for three-month delivery gained 2.1% to USD 7,375 a tonne on the London Metal Exchange.