Copper futures rise on pick up in demand

Copper prices rose by Rs 1.40 to Rs 349.15 per kg in futures trading today as speculators created fresh positions, supported by a rise in spot demand.

At the Multi Commodity Exchange, copper for delivery in February rose by Rs 1.40, or 0.40%, to Rs 349.15 per kg, with a business turnover of 2,580 lots.

Similarly, for delivery in November it edged up by Rs 1.20, or 0.35%, to Rs 344.45 per kg, with an open interest of 31,705 lots.

Analysts said fresh buying by speculators at existing lower levels along with pick-up in demand from consuming industries, mainly led to the rise in copper futures prices.