Copper futures rise 0.26% on spot demand

Amid pick up in demand at domestic spot market, copper prices edged higher by 0.26 per cent to Rs 329.80 per kg in futures trade today as traders built up fresh positions.
However, a weakening trend at the London Metal Exchange (LME) as most industrial metals fell amid mounting concern that economic stimulus planned around the world would not be enough to push up demand, capped the gains.
At Multi Commodity Exchange, copper for delivery in far-month November inched up by 85 paise, or 0.26 per cent to Rs 329.80 per kg in business turnover of 8 lots.
Likewise, the metal for delivery in August contracts traded higher by 70 paise, or 0.22 per cent to Rs 322.95 per kg in 428 lots.

Analysts said pick up in demand from consuming industries in the spot market influenced copper prices at futures trade but weakness in industrial metals overseas limited the gains.
Globally, copper for delivery in three months declined 0.9 per cent to settle at USD 4,831 per tonne at the LME in yesterday's trade.