Spot demand lifts copper futures by 0.25 per cent

Copper futures traded 0.25 per cent higher at Rs 316.45 per kg today as speculators raised their bets even as metals weakened overseas.
In futures trade, copper for delivery in far-month November rose by 80 paise, or 0.25 per cent, at Rs 316.45 per kg in a business turnover of 141 lots at Multi Commodity Exchange.
Similarly, the metal for delivery in August edged up by 70 paise, or 0.23 per cent, at Rs 309.35 per kg in 1,102 lots.
Analysts said rising demand from domestic consuming industries mainly supported the upmove in metal prices at futures trade but weakness in the base metals pack at the London Metal Exchange (LME) on surging inventories and signs of weak demand in China, the biggest consumer.

Globally, copper slid 1.7 per cent to settle at USD 4,632 per tonne at the LME in yesterday's trade.