NEW DELHI, Aug 28: In tight movements, copper futures prices rose marginally by 0.10 per cent to Rs 432.25 per kg today as speculators enlarged positions even as metal weakened overseas.
Pick-up in demand at spot markets supported the upside.
At the Multi Commodity Exchange, copper for delivery in far-month November up by 45 paise, or 0.10 per cent, to Rs 432.25 per kg, with a business turnover of 238 lots.
Similarly, the metal for delivery in August traded 35 paise, or 0.08 per cent higher, at Rs 423.20 per kg, with a business turnover of 297 lots.
Marketmen said the rise in copper futures was attributed to a firming trend at domestic spot markets on the back of pick up in demand from consuming industries but metal’s weakness at the London Metal Exchange (LME) on concern that a slowdown in Europe will curb demand, restricted losses.
Globally, copper for the metal for delivery in three months slid 0.2 per cent to USD 7,017 per tonne at the LME. (PTI)
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