Copper futures rise on spot demand,global cues

At the Multi Commodity Exchange,copper for delivery in August rose by Rs 1.55,or 0.37 per cent,to Rs 424.20 per kg,with a business turnover of 33,008 lots.

Likewise,the metal for delivery in November traded higher by Rs 1.40,or 0.33 per cent,to Rs 428.75 per kg,with a business turnover of 12,862 lots.

Marketmen said fresh positions created by speculators amid a firming global trend after reports that China,the world’s largest consumer of metals,is willing to invest in

Europe’s bond market,potentially easing the region’s debt crisis and improving the outlook for metals’ demand,mainly influenced copper prices at futures trade.

Meanwhile,copper rose 0.5 per cent to USD 7,613.75 a tonne on the London Metal Exchange.