Copper up by 0.1% on spot demand
Traders built up fresh positions amid pick up in demand and positive global cues
 "Copper up by 0.1% on spot demand")
Amid pick up in demand at domestic spot market and positive global cues, copper prices edged higher by 0.11% to Rs 315.45 per kg in futures trade today as traders built up fresh positions.
At Multi Commodity Exchange, copper for delivery in February month inched up by 35 paise, or 0.11% to Rs 315.45 per kg in business turnover of 1,129 lots.
Likewise, the metal for delivery in far-month April contracts traded higher by 20 paise, or 0.06% to Rs 319.15 per kg in 17 lots.
Analysts said besides pick up in demand from consuming industries in the spot market, gains in most industrial metals at the London Metal Exchange influenced copper prices at futures trade.
However, markets in China, the world's biggest consumer of metals, are closed this week for the Lunar New Year holiday.
At Multi Commodity Exchange, copper for delivery in February month inched up by 35 paise, or 0.11% to Rs 315.45 per kg in business turnover of 1,129 lots.
Likewise, the metal for delivery in far-month April contracts traded higher by 20 paise, or 0.06% to Rs 319.15 per kg in 17 lots.
Analysts said besides pick up in demand from consuming industries in the spot market, gains in most industrial metals at the London Metal Exchange influenced copper prices at futures trade.
However, markets in China, the world's biggest consumer of metals, are closed this week for the Lunar New Year holiday.
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First Published: Feb 09 2016 | 10:57 AM IST