Copper inches up on spot demand

Copper prices traded marginally higher by 0.08 per cent to Rs 458.45 per kg in futures trade today as speculators enlarged their positions on pick-up in demand in the spot market.  

At the Multi Commodity Exchange counter, copper for delivery in February traded marginally higher by 35 paise, or 0.08 per cent, to Rs 458.45 per kg, with a business turnover of 12 lots.

Likewise, the metal for delivery in April edged up by 30 paise, or 0.07 per cent, to Rs 461.50 per kg, with an open interest of two lots.   

Market analysts said speculators created fresh positions on the back of a rise in demand in the spot market mainly helped copper futures prices to trade marginally higher.