NEW DELHI: Amid short-covering by speculators and rising spot demand, copper futures prices on Wednesday rose marginally by 0.24 per cent to Rs 417.95 per kg.
However, a weak trend in base metals at the London Metal limited the fall.
At the Multi Commodity Exchange, copper for delivery in August rose by Re one, or 0.24 per cent, to Rs 417.95 per kg, with a turnover of 205 lots.
Similarly, the metal for delivery in June was up by 90 paise, or 0.22 per cent, at Rs 412.60 per kg, with a trade volume of 4,876 lots.
Globally, copper for three-month delivery fell by 0.60 per cent to $ 7,276.75 a tonne on the London Metal Exchange (LME).
Market analysts attributed the rise in copper futures to covering-up of short positions by speculators and rising spot demand but a weak trend on the LME as Freeport-McMoRan Copper & Gold Inc said it can start open-pit production at Indonesia's Grasberg mine after an accident halted operations, restricted gains.
