Copper futures rise to Rs 1,304.55 per kg on firm global cues, supply concerns

New Delhi, Jan 2 (PTI) Copper prices rose nearly 1 per cent to Rs 1,304.55 per kg in the futures trade on Friday, tracking strong trends in the global markets amid persistent supply concerns.

On the Multi Commodity Exchange, copper futures for January delivery rose Rs 12.05, or 0.93 per cent, to Rs 1,304.55 per kilogram in a business turnover of 13,816 lots.

Similarly, the February contract for the red metal increased by Rs 11.20, or 0.85 per cent, to Rs 1,322.45 per kg in 4,392 lots.

On the global front, Comex copper futures for March delivery went up 0.83 per cent to USD 5.73 per pound while the red metal on the London Metals Exchange (LME) was trading 0.23 per cent higher at USD 12,494 per tonne.

According to Axis Securities, Comex copper futures are trading higher, driven by supply-side constraints from mine outages worldwide. Robust demand from China and global markets supported prices above the USD 5.6 level.

Looking ahead, the brokerage firm said "in 2026, copper is expected to trade with a positive bias, as potential stimulus measures from China and ongoing supply-side concerns may bolster investor sentiment". PTI HG TRB