Copper futures edge up by 0.11% on spot demand

Copper prices inched up by 0.11 per cent to Rs 413.30 per kg in futures trade today as speculators raised bets amid uptick in demand in the spot market despite a weak tend overseas.

At the Multi Commodity Exchange, copper for delivery in November edged up by 45 paise, or 0.11 per cent, to Rs 414.30 per kg in a business turnover of 85 lots.

Similarly, the metal for delivery in August contracts was up by 40 paise, or 0.10 per cent, to Rs 405.80 per kg in 3230 lots.

Market analysts said widening of positions by traders due to pick up in demand from consuming industries in the spot market attributed to the rise in copper prices in futures trade but a weak trend overseas capped the rise.

 

Meanwhile, copper for delivery in three months was down 0.3 per cent at USD 5,920.50 a tonne on the London Metal Exchange.