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Copper futures up on global cues

Copper futures up on global cues

New Delhi, Jan 25 (PTI) Copper futures traded 0.74 per cent higher to quote at Rs 419.85 per kg Friday as traders enlarged their bets, taking positive cues from global markets. At the Multi Commodity Exchange, copper for delivery in February traded higher by Rs 3.05, or 0.74 per cent, at Rs 419.85 per kg in a business turnover of 852 lots. Similarly, copper for April contracts was trading higher by Rs 2.60, or 0.62 per cent, at Rs 423.90 per kg in a business turnover of 97 lots. Marketmen said the rise in copper prices at futures trade was mostly supported by a firming trend at the London Metal Exchange (LME) after a forecast of drop in output in 2019. Globally, at the LME three-month copper had inched up 0.3 per cent to USD 5,939.50 per tonne, after closing down 0.5 per cent in the previous session. The most-traded March copper contract on the Shanghai Futures Exchange was down 0.1 per cent at 47,340 yuan (USD 6,974.79) a tonne. PTI SUN RUJ RVK ADIADI