Copper marginally up on spot demand

November, Feb contracts gain 0.27% and 0.21% respectively, on higher offtake from consuming industries

Copper prices rose by Rs 1.15 to Rs 434.80 per kg in futures trade today as speculators enlarged positions, driven by increased demand from consuming industries in the spot market.

At the Multi Commodity Exchange, copper for delivery in November rose by Rs 1.15, or 0.27 per cent, to Rs 434.80 per kg in business turnover of 10,238 lots.    

February copper moved up by 90 paise, or 0.21 per cent, to Rs 439.90 per kg in 1,915 lots.

Market analysts said the rise in copper prices at futures trade was mostly attributed to increased demand from consuming industries in the spot market.