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Copper futures rise 0.21 pc on spot demand

Press Trust of India  |  New Delhi 

Copper prices edged higher by 0.21 per cent to Rs 381.65 per kg in futures trade today as traders built up fresh positions even as the metal weakened overseas.

At the Multi Commodity Exchange, copper for delivery in August inched up by 80 paise, or 0.21 per cent, to Rs 381.65 per kg in a business turnover of 455 lots.

Likewise, the metal for delivery in November traded higher by 60 paise, or 0.16 per cent, to Rs 387.55 per kg in 2 lots.

Analysts said, pick-up in demand from consuming industries in the spot market mainly supported the upside in copper futures here but weakness in select base metals at the Metal Exchange (LME), capped the gains.

Globally, copper for three-months delivery ended 0.5 per cent down at USD 5,875 per tonne at the LME in yesterday's trade.

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

First Published: Fri, July 14 2017. 11:28 IST