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Copper futures rise 0.44% on spot demand

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

Copper traded Rs 1.25 or 0.44 per cent higher at Rs 288.60 per kg in futures trade today, after taking cues from overseas amid pick up in spot demand.

At the Multi Commodity Exchange platform, copper for June contract rose Rs 1.25, or 0.44 per cent at Rs 288.60 per kg, with an open interest of 35,487 lots. It ended 0.3 per cent lower at Rs 287.35 per kg in yesterday's trading.

The metal for delivery in far August-month contract also gained Rs 1.10, or 0.38 per cent at Rs 292.6 per kg, with a turnover of 5,571 lots.

Market analysts said recovery at the London Metal Exchange helped copper futures to trade higher but the Europe's debt crisis continued to put pressure on the metal prices and capped gains.

Meanwhile, three-month copper rose 0.41 per cent at $6,125 a tonne.

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First Published: Jun 09 2010 | 1:56 PM IST

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