Spot demand lifts copper futures by 0.83%

Copper prices were up by 0.83 per cent to Rs 303.85 per kg in futures trade today as speculators widened their bets amid pick up in demand in the spot market.

At the Multi Commodity Exchange, copper for delivery in June month edged up by Rs 2.50 or 0.83 per cent to Rs 303.85 per kg in business turnover of 33,125 lots.

Likewise, the metal for delivery in August contracts traded higher by Rs 2.30 or 0.75 per cent to Rs 308.45 per kg in 1.762 lots.

Analysts said enlarging of positions on the back of pick up in demand from consuming industries in the spot market mainly led to the rise in copper prices at futures trade.