Copper moves up by 0.52% on higher demand

Copper prices rose by 0.52 per cent to Rs 448.05 per kg in futures market today as speculators built up fresh positions, taking positive cues from spot market on higher demand.

At the Multi Commodity Exchange, copper for delivery in August rose by Rs 2.30, or 0.52 per cent to Rs 448.05 per kg in business turnover of 2,205 lots.

In a similar fashion, the metal for delivery in November contracts was trading higher by Rs 2.05, or 0.45 per cent to Rs 453.95 per kg in 46 lots.

Market analysts said fresh positions created by participants following uptick in demand from consuming industries in the physical markets, mainly pushed up copper prices.