Copper futures gain 0.12% on surging spot demand

Copper prices rose by 0.12 per cent to Rs 380.90 per kg in futures trading today as traders engaged in enlarging their positions, tracking a firm trend at spot market on rising demand.
At the Multi Commodity Exchange, copper for delivery in February went up by 45 paise, or 0.12 per cent, to Rs 380.90 per kg in business turnover of 961 lots.
Similarly, the metal for delivery in far-month April was trading higher by 40 paise, or 0.10 per cent, to Rs 384.25 per kg in 5 lots.
Analysts said widening of positions by participants on the back of rising demand from consuming industries at domestic spot market, mainly kept copper prices higher at futures trade.