Copper futures rise 0.35% on spot demand

Copper prices rose by 0.35 per cent to Rs 429.90 per kg in futures trade today as speculators raised bets amid pick up in demand in the spot market.

At the Multi Commodity Exchange, copper for delivery in August moved up by Rs 1.50, or 0.35 per cent, to Rs 429.90 per kg in a business turnover of 1,605 lots.

Similarly, the metal for delivery in November contracts edged up by Rs 1.30, or 0.30 per cent, to Rs 433.90 per kg in 13 lots.

Market analysts said fresh positions built up by traders owing to uptick in demand from consuming industries in the spot market attributed to the rise in copper prices in futures trade.