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Copper futures gain 0.12% on spot demand

Press Trust of India  |  New Delhi 

Copper prices strengthened by 0.12 per cent to Rs 464.35 per kg in futures trade today as speculators raised bets on positive cues from the spot markets.

However, a weak trend in global markets capped the gains.

At the Multi Commodity Exchange, copper for delivery in June edged up by 55 paise, or 0.12 per cent, to Rs 464.35 per kg in a business turnover of 990 lots.

Similarly, the for delivery in August contracts was trading higher by 30 paise, or 0.06 per cent, at Rs 468.10 per kg in 10 lots.

Market analysts said widening of positions by traders due to pick up in demand from consuming industries in the physical market kept copper prices higher in futures trade.

Meanwhile, copper for delivery in three months fell 0.2 per cent to USD 6,869.00 per tonne on the London Exchange.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 18 2018. 12:20 IST