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Copper gains 0.15% on spot demand

Speculators create fresh positions on higher offtake from consuming industries

Press Trust of India New Delhi
Copper prices moved up by 0.15 per cent to Rs 373.05 per kg in futures trade today as speculators created fresh positions on rise in demand in spot market.

At the Multi Commodity Exchange, copper for delivery in current month (April) moved up by 55 paise, or 0.15 per cent, to Rs 373.05 per kg in a business turnover of 531 lots.

The metal for delivery in June also rose by a similar margin to Rs 378.10 per kg in 14 lots.

Analysts said fresh positions built-up by speculators following increased demand from consuming industries in the spot market mainly pushed up copper prices at futures trade here but data showing China, the world's largest consumer, grew at the slowest pace since the global recession, capped the gains.
 

Globally, copper was little changed at $5,950 a metric tonne on the London Metal Exchange.

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First Published: Apr 15 2015 | 11:57 AM IST

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