Copper futures rise on spot demand

NEW DELHI: Copper futures prices were up by 0.20 per cent to Rs 391.80 per kg today, as speculators enlarged positions, supported by pick up in demand at spot markets.

However, weak trend in the metal at the London Metal Exchange (LME) capped gains.

At the Multi Commodity Exchange platform, copper for delivery in April gained by 80 paise, or 0.20 per cent to Rs 391.80 per kg.

Similarly, the metal for delivery in February edged up by 65 paise, or 0.17 per cent to Rs 389.50 per kg.

Market analysts said that a firm trend at spot markets on pick up in demand, helped copper futures to trade higher, but a weak trend at the LME, restricted gains.

Meanwhile, at the LME, copper for three-month delivery was 0.13 per cent down to USD 8,376 a tonne.