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Copper prices moved up by 0.39% to Rs 411.80 per kg in futures trade today as speculators covered-up their short positions even as metal weakened overseas.
At the Multi Commodity Exchange, copper for delivery in November traded higher by Rs 1.60, or 0.39%, to Rs 411.70 per kg in a business turnover of 888 lots.
Metal for delivery in far-month February gained Rs 1.50, or 0.36% to Rs 418.70 per kg in business turnover of 112 lots.
Analysts attributed the rise in copper futures to covering-up of short positions by speculators but metal's losses at the London Metal Exchange (LME), limited the gains.
Meanwhile, copper for delivery in three months slipped 0.2% to $6,664 a tonne at the LME, while in Shanghahi, January next year delivery dropped 0.50% to 47,580 yuan ($7,749) per tonne.
