Copper futures rise on spot demand, short-covering

Buoyed by a firm trend at the domestic spot markets on increased domestic demand, copper futures traded 0.18 per cent higher at Rs 384.55 per kg today.

Moreover, covering-up of short positions, today being the last day of June too influenced the metal's prices.

At the Multi Commodity Exchange, copper for delivery in June was trading up by 70 paise, or 0.18 per cent higher, at Rs 384.55 per kg, in a business volume of 1,938 lots.

Similarly, the metal for delivery in August was trading up by 15 paise, or 0.04 per cent higher, to Rs 388.80 per kg in 876 lots.
 

Traders said, firming trend in select base metals at the domestic spot markets on pick-up in demand coupled with covering-up of short positions, supported the upside in copper futures here.