Copper rises marginally on spot demand

Weak overseas trend limits gains

Copper prices rose marginally by 0.17% to Rs 453.15 per kg in futures trading today, mostly supported by a firm spot demand.

However, a weak trend in metal at the London Metal Exchange (LME) restricted the gains.

At the Multi Commodity Exchange, copper for delivery in November rose by 75 paise, or 0.17%, to Rs 453.15 per kg, with a business turnover of 16,327 lots.

February copper traded higher by 80 paise, or 0.17%, to Rs 458.05 per kg, with a business turnover of 939 lots.

Marketmen said fresh positions created by speculators supported by a pick up in spot demand influenced copper prices at futures trade but weakness in metal at the LME limited the gains.

 

Meanwhile, copper fell 0.5% to $8,054.50 a tonne on the London Metal Exchange.