Copper up 0.6% on spot demand

Copper for delivery in the August contract traded higher by 0.59%

Copper prices rose by Rs 2.55 to Rs 412 per kg in futures trading today as speculators created fresh positions amid increased demand in the spot market.

At the Multi Commodity Exchange, copper for delivery in June rose by Rs 2.55, or 0.62%, to Rs 412 per kg in business turnover of 27,856 lots.

Likewise, copper for delivery in the August contract traded higher by Rs 2.45, or 0.59%, to Rs 417.25 per kg in 1842 lots.

Market analysts said fresh positions created by speculators driven by pick-up in demand in the spot market mainly helped copper prices to trade higher at futures trade.