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Copper futures marginally up on short covering

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 3:13 AM IST

Copper futures prices traded marginally higher by Rs 0.35, 0.12 per cent, to Rs 301.10 per kg today, after traders covered up their positions, driven by a better trend in physical markets.

At the Multi Commodity Exchange counter, copper for August contract traded higher by Rs 0.35, or 0.12 per cent to Rs 301.10, with an open interest of 7,177 lots.

The metal for delivery in June contract also inched up by Rs 0.25, or 0.08 per cent to Rs 297.55 per kg, with a business turnover of 32,461 lots.

Analysts said covering up of short positions by speculators and pick up in demand at the spot market led to a rise in copper prices at futures trade.

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First Published: Jun 18 2010 | 3:31 PM IST

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