Copper futures up 0.40 pc on spot demand

Copper prices moved up by 0.40 per cent to Rs 416.95 per kg in futures trade today as participants enlarged positions, triggered by increased spot demand.
At the Multi Commodity Exchange, copper for delivery in November was trading higher by Rs 1.70, or 0.40 per cent, to Rs 423.10 per kg, in a business volume of 41 lots.
Metal for delivery in the current month gained Rs 1.60, or 0.39 per cent, to Rs 416.95 per kg, in a business turnover of 1,305 lots.
Marketmen attributed the rise in copper futures to a firming trend in base metals at the domestic spot markets from consuming industries.