Copper up by 0.4% on spot demand

Copper futures traded 0.45% higher at Rs 300.30 per kg today as speculators raised bets amid rising demand at the domestic spot markets.

However, weakness in the base metals pack at the London Metal Exchange (LME) on slowing growth in China, the world's biggest consumer, capped the gains.

In futures trade, copper for delivery in far-month April contract was trading higher by Rs 1.35 or 0.45% at Rs 300.30 per kg in a business turnover of 15 lots at Multi Commodity Exchange.

Similarly, the metal for delivery in February edged up by Rs 1.30 or 0.44% at Rs 295.10 per kg in 1,172 lots.
 
Market analysts said a better trend at the domesic spot markets on the back of pick-up in demand helped copper futures to trade higher but weakness in metals at the LME, restricted the gains.

Globally, copper slid 0.3% higher at $4,376 a tonne at London Metal Exchange, the lowest intra-day level since May 2009.