Copper futures rise 0.24 pc on spot demand

Copper prices were trading up by 0.24 per cent to Rs 433.20 per kg in futures trading today as speculators covered-up their short positions even as the metal weakened overseas.
At the Multi Commodity Exchange, copper for delivery in the current month rose by Rs 1.05, or 0.24 per cent, to Rs 433.20 per kg in a business turnover of 778 lots.
Similarly, the metal for delivery in February traded higher by Re 1, or 0.23 per cent, to Rs 440.40 per kg in 309 lots.
Analysts attributed the rise in copper futures to covering-up of short positions, today being the last day of November series expiry but a weak trend in overseas market, capped the gains.

Globally, at the London Metal Exchange copper was down 0.3 per cent at USD 6,737 per tonne despite better-than- expected China PMI.