Copper up 0.6% on spot demand

Metal for delivery in August edged up by 0.64%

Copper prices were up 0.65 per cent to Rs 386.85 per kg in futures trade today, largely supported by rising demand at spot markets.

However, weakness in metals at the London Metal Exchange (LME) amid data on US manufacturing indicating that it's losing traction and slower growth in China, the biggest consumer, restricted the gains.

At the Multi Commodity Exchange, copper for delivery in June traded higher by Rs 2.50, or 0.65 per cent, to Rs 386.85 per kg in a business turnover of 2,702 lots.

Similarly, the metal for delivery in August edged up by Rs 2.50, or 0.64 per cent, to Rs 391.85 per kg in 46 lots.

Analysts said a firming trend at the spot market on the back of a pick-up in demand from consuming industries mainly supported the upside in copper prices in futures trade, but a weak trend in base metals at LME capped the gains.

Meanwhile, copper for delivery in three months fell 0.2 per cent to USD 6,014 per tonne at LME while at Shanghai exchange, the metal for August fell 0.3 per cent to 43,530 yuan (USD 7,023) per tonne.