Copper futures climb 1.17%, helped by spot demand

Copper futures traded 1.17 per cent higher at Rs 449.90 per kg today as speculators widened positions amid uptick in demand at the spot market.

At the Multi Commodity Exchange, copper for delivery in November was trading higher by Rs 5.20, or 1.17 per cent, at Rs 449.90 per kg, in a business turnover of 7,130 lots.

Analysts said increased demand at the domestic spot market from consuming industries mainly drove the copper futures.

Globally, copper for delivery in the next three months, however, fell 0.4 per cent to end at USD 6,839 per tonne on the London Metal Exchange yesterday.