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Copper futures rise 0.48 pc

Press Trust of India  |  New Delhi 

Copper prices rose 0.48 per cent to Rs 428.30 per kg in futures trade today as participants raised their bets, tracking a pick-up in spot demand.

However, a weak trend in base metals overseas restricted the gains.

In futures trading at the Multi Commodity Exchange, copper for delivery in February rose by Rs 2.05, or 0.48 per cent, to Rs 428.30 per kg, with a turnover of 653 lots.

Similarly, the metal for delivery in far-month April was up by Rs 1.80, or 0.42 per cent, to Rs 431.85 per kg, with a trade volume of 1 lot.

Market analysts attributed the rise in copper futures to building up of fresh positions by participants driven by a firm trend at the domestic physical markets on rising demand. However, a weak trend in base metals at the Metal Exchange (LME) restricted the gains.

At the LME, three-month copper was down 0.2 per cent to USD 6,552.50 per tonne and set for a weekly loss of more than 4 per cent.

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

First Published: Fri, December 08 2017. 10:45 IST