Copper futures up on spot demand

Copper prices traded up by 0.33 per cent at Rs 771.40 per kg on Tuesday in the futures market on the back of a pick-up in the spot demand.

On the Multi Commodity Exchange, copper contracts for delivery in June traded higher by Rs 2.55, or 0.33 per cent, at Rs 771.40 per kg in a business turnover of 3,998 lots. Copper is viewed as an economic bellwether, for its use in various industries, among commodities.

Analysts attributed the rise in copper prices to raising of bets by participants driven by a pick-up in the spot demand.

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