Copper futures rise 0.20 pc on spot demand

Copper traded higher by 0.20 per cent to Rs 358.70 per kg in futures market today as speculators built up fresh positions amid pick up in demand at domestic spot markets.
However, weakness in the base metals at the London Metal Exchange (LME) on inventory inflow and weak Chinese data capped the gains
At the Multi Commodity Exchange, copper for delivery in June month rose by 70 paise, or 0.20 per cent to USD 358.70 per kg in business turnover of 291 lots.
On similar lines, the metal for delivery in far-month August contracts traded higher by 45 paise, or 0.12 per cent, to Rs 362.35 per kg in 2 lots.

Analysts said raising of bets by participants, tracking firm spot demand, mainly supported the upside in copper prices at futures trade.
Meanwhile, copper for three-month delivery ended down by 0.2 per cent at the LME.