Copper futures up on spot demand

Supported by increased domestic demand at the spot market, copper prices rose 0.29 per cent to Rs 335.40 per kg in futures trade today even as the metal weakened at the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in far-month June traded higher by Re 1, or 0.29 per cent, to Rs 340 per kg in a business turnover of nine lots.
The metal for delivery in April edged up by 80 paise, or 0.24 per cent, to Rs 335.40 per kg in 753 lots.
Globally, copper for delivery in three months dropped 0.4 per cent to 4,913.50 per tonne on the London Metal Exchange (LME) as investors await central bank action on stimulating economic growth.

Market analysts said increased demand from consuming industries at the domestic spot markets, mainly influenced copper prices at futures trade but metal's weakness at the LME, limited the gains.