Copper rises by 0.1% on spot demand

Copper prices were up by 0.12% to Rs 340.70 per kg in futures trade today as traders enlarged positions, taking positive cues from spot market on pick up in demand from consuming industries.

However, a weak trend in base metals at the London Metal Exchange restricted the rise.

At the Multi Commodity Exchange, copper for delivery in November month edged up by 40 paise, or 0.12% to Rs 340.70 per kg in business turnover of 5,179 lots.

Similarly, the metal for delivery in far-month February next year traded higher by 15 paise, or 0.04% to Rs 346.50 per kg in 111 lots.
 
Market analysts attributed rise in copper prices at futures trade to pick up in demand at the domestic spot markets but a weak trend in base metals overseas, caped the gains.

Globally, copper for delivery in three months Copper was little changed at $5,181.50 a metric tonne at the London Metal Exchange.