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Spot demand lifts copper futures by 0.76 pc

Press Trust of India  |  New Delhi 

futures traded 0.76 per cent higher at Rs 432 per kg Friday as speculators raised their bets amid rising spot demand even as the weakened at the Exchange (LME).

In futures trade, for delivery in November rose by Rs 3.25, or 0.76 per cent, at Rs 432 per kg in a business turnover of 937 lots at the Multi Commodity Exchange.

Similarly, the for delivery in far-month February next year edged up by Rs 3, or 0.69 per cent, at Rs 4376.65 per kg in 8 lots.

Analysts said a better trend at the spot markets on rising demand from domestic consuming industries, influenced futures here, but a weak trend at the squeezed the gains.

Globally, copper for delivery in three months was 0.3 per cent down at USD 6,015 per tonne at LME, pulling back from a two-week high reached in the prior session, as investors exercised caution ahead of possible trade talks between the US and to resolve an escalating tariff war.

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

First Published: Fri, September 14 2018. 11:50 IST