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Spot demand lifts copper futures by 0.31 pc

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Press Trust of India New Delhi
Last Updated : Sep 17 2018 | 11:00 AM IST

Copper futures traded 0.31 per cent higher at Rs 425.25 per kg Monday as speculators increased bets amid rising spot demand.

However, a weak trend overseas caped the gains.

In futures trade, copper for delivery in November rose by Rs 1.30, or 0.31 per cent, at Rs 425.25 per kg in a business turnover of 652 lots at the Multi Commodity Exchange.

Similarly, the metal for delivery in far-month February edged up by Rs 1.10, or 0.26 per cent, to Rs 431 per kg in 7 lots.

Analysts said raising of bets by participants following increasing demand from domestic consuming industries, influenced copper futures here.

Globally, copper was delivery in three months at the London Metal Exchange (LME) was down 1.9 per cent at USD 5,861 per tonne on reports that US tariffs on USD 200 billion of Chinese goods could be imposed immediately, raising fears that demand for industrial metals will soften.

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First Published: Sep 17 2018 | 11:00 AM IST

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