Copper futures edged up on overseas cues, spot demand

Amid a firm global trend and pick up in demand at domestic spot market, copper prices traded higher by 0.16% to Rs 317.60 per kg in futures trade today as speculators enlarged positions.

At the Multi Commodity Exchange, copper for delivery in August traded higher by 50 paise or 0.16% to Rs 317.60 per kg in business turnover of 323 lots.

Likewise, the metal for delivery in November contracts edged up by 40 paise or 0.12% to Rs 324.30 per kg in 4 lots.

Analysts said firm trend overseas and increased demand from consuming industries in domestic spot markets led to rise in copper prices in futures trade.