Copper futures rise on spot demand

NEW DELHI, Oct 5: Buoyed by a firm trend at the domestic spot markets on industrial demand, copper futures traded 0.28 per cent higher at Rs 427.90 per kg today as speculators widened their bets.

At the Multi Commodity Exchange, copper for delivery in November was trading Rs 1.20, or 0.28 per cent higher, at Rs 427.90 per kg, in a business volume of 750 lots.

Similarly, the metal for delivery in far-month February next year was up by Rs 1.10, or 0.26 per cent, to Rs 432.25 per kg in 8 lots.

Analysts said firming trend in base metals at the domestic spot markets on the back of pick up in demand from consuming industries, influenced the metal’s futures here. (PTI)