ET:Copper futures rise on spot demand; short-covering
NEW DELHI: Copper prices rose marginally by 0.11 per cent to Rs 412.35 per kg in futures trade on Friday as speculators covered-up their short positions amid a pick-up in spot demand.
However, metal's weakness at the London Metal Exchange, limited the gains.
At the Multi Commodity Exchange, copper for delivery in April traded higher by 45 paise, or 0.11 per cent, to Rs 412.35 per kg in business turnover of 2,638 lots.
Similarly, the metal for delivery in June edged up by 40 paise, or 0.10 per cent, to Rs 419 per kg in 173 lots.
Market analysts attributed rise in copper prices at futures trade to covering-up of short positions by speculators and rising demand in the spot markets but metal's weakness at the LME, capped the gains.
Meanwhile, copper for delivery in three months dropped 0.5 per cent to $ 7,572.25 a tonne at the LME.
